Emerging Markets update: July 2025
Global markets ended July on a positive note, with the MSCI World index up by 1.3%. Emerging markets (EM) continued to outperform their developed market (DM) peers, as the MSCI Emerging Markets index gained 2.0% for the month. Performance was lifted by the ongoing artificial intelligence (AI) boom, although lingering tariff risks and US dollar strength provided headwinds for EM equities.