Local sentiment and Stock price impact: The banking stocks in EMs
Synopsis: Usually, when global factors affect investor sentiment, the financial services stocks are the first to react in many emerging markets. EMAlpha looked at the stock price of some major BFSI plays to see how they have performed over the last one-month vis-Ă -vis their EMAlpha local sentiment score. We analyzed Banco Bradesco of Brazil, ICBC (Industrial and Commercial Bank of China Limited), Hong Kong Exchanges and Clearing Limited, State Bank of India, and Bank Mandiri of Indonesia. The extent might vary, but in most of these cases, there is an impact of worsening local sentiment score on their stock price movement.