Chart of the week: emerging markets go from Brics to clicks

Investors tend to associate emerging markets with commodity producers. But technology is now the single biggest sector of the MSCI Emerging Markets index.

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Investors tend to associate emerging markets with commodity producers. And no wonder: a decade ago raw-materials companies accounted for 37% of the benchmark MSCI Emerging Markets index. But times have changed. Technology is now the single biggest sector, comprising 27% of the index, up from 10% in 2008. A strong dollar, which makes commodities more expensive for investors outside the US, has provided an additional tailwind in the past few months. Emerging markets have gone from Brics to clicks, notes Kate Allen in the Financial Times. The new tech giants include Chinese firms Baidu, Alibaba and Tencent, along with South Korea's mobile group Samsung and Taiwanese semiconductor maker TSMC.

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