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Indonesia: 2011 emerging market winner
Indonesia is the only major emerging stock market to have posted any real gains in 2011, a year in which the broad MSCI emerging stock market index lost 20 percent and underperformed developed markets in a flight from risk. But for Indonesia, which many say should turn the BRIC club into BRIIC, last year was one of surging growth, with the world’s largest coal exporter helped by rising commodity prices. Indonesia won back a coveted investment grade rating last month, its first since the Asian financial crisis of 1997. Egypt, in contrast, was bottom of the heap, marking down a massive 46.8 percent loss on its ... (full story)