a quarterly survey of 100 fund managers by HSBC showed that investors' bullish sentiment towards emerging markets has reached the highest level in over two years. The survey found that currently about 44% of respondents are optimistic about emerging markets in the next three months. This proportion is higher than the 36% in March and also marks the highest level since March 2023. The survey covered funds managing a total of $414 billion in assets in emerging markets. HSBC economist Murat Ulgen, who led the survey, said: "The consensus remains that emerging market stocks will rise in the next three months and outperform developed market stocks."