NEW YORK—After emerging market stocks led global equity markets lower in a brutal 2018, some U.S.-based fund managers are betting that the asset class may have the largest rebound in the new year.
It may not look likely at the moment, given that an economic downturn in China prompted iPhone-maker Apple Inc. to lower its quarterly revenue forecast on Jan. 2 for the first time in a decade. Its shares slumped nearly 10 percent after Chief Executive Tim Cook blamed the U.S.-China trade war and “economic deceleration,” prompting broad selloffs around the world the following day.
