Commenting on current buoyant market conditions, Peter Takaendesa, Head: Equities at Mergence Investment Managers, said that the GNU has renewed optimism that structural economic reforms will gain momentum. The local stock market is enjoying a strong recovery in 2024 after years of underperforming other key global equity markets, especially the American and Indian markets. Furthermore, the global economy has also defied bearish growth forecasts and avoided a recession so far, despite very aggressive interest rate hikes over the past few years.
Asset manager points to worrying signs for emerging markets
Commenting on the local market impact of the Trump electoral victory in the US, Mergence Head: Equities, Peter Takaendesa, noted