Emerging Market Contrasts: China and India

China's stock market is the best performing in the world so far for the second quarter. The performance of the MSCI China Index has risen above that of the S&P 500 Index in 2024, after having taken a very different path since the start of the year. India's stocks have now lagged a bit, slumping since April, after previously tracking U.S. stocks.

Year-to-date performance for stocks in U.S., China, and India

YTD Performance for Stocks in US, China, India

All indexes measured in US Dollars.

Source: Charles Schwab, Bloomberg data as of 5/13/2024. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. Past performance is no guarantee of future results.

China's stocks did not sustainably climb above its flattish performance for this year until late April. What changed for China in April and May? Very little.