Coming in from the cold Renewed interest comes after wild performance for emerging markets through much of last year, hit by the surge in global inflation and the almighty US dollar. Investors became more cautious about the index’s largest weight – China – as President Xi Jinping stacked his leadership ranks with loyalists, resulting in an exodus of Western capital from Hong Kong. The Hang Seng Index fell 40 per cent last year to a low of 14,597 in October. But some sensed opportunity amid rumours China would relax its restrictive COVID-19 policies and prop up its beleaguered property sector,...