Is Argentina Outperforming Emerging Markets in June 2017?

Source: Market Realist
By: Mary Sadler
6/27/2017

Recently, Argentinian equities (ARGT) took a hit as MSCI announced that Argentina would remain in its frontier market category on June 20, 2017. The Merval Index, Argentina’s benchmark index, rose about 6% in May 2017. However, the losses so far in June have reversed the gains of the previous month. In June 2017, the Merval Index has dropped ~5% as of June 23.

Argentina’s economy seemed to be one step closer to regaining its status as an emerging market participant with investor-friendly reforms in June 2017. According to MSCI’s announcement, Argentina needed more improvements and time to prove the stability of its reforms. The next review is in 2018, which could again provide an opportunity for Argentina to move up to emerging market status (EEM) from frontier market status (FM). Let’s look at the performance of the Merval Index as compared to the emerging markets indexes in 2017 in the below chart.

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