Market Update – 2 December 2025
The MSCI Emerging Markets index closed at 1 372,65 USD on 30 November 2025, following a series of movements that reflected broader market volatility in December. The index’s 52‑week range stands between 982,57 USD (low) and 1 416,39 USD (high).
Exchange‑Traded Fund (ETF) Net Asset Value Announcements
Several Amundi MSCI Emerging Markets ETFs released net asset values (NAVs) for 1 December 2025, providing a snapshot of their underlying holdings and liquidity.
| Fund | Code | NAV per share | Shares in issue | Date |
|---|---|---|---|---|
| Amundi Core MSCI Emerging Markets Swap UCITS ETF Dist | E127 LN | USD 60,8534 | 64 634 264 | 01 Dec 2025 |
| Amundi MSCI Emerging Markets Swap UCITS ETF USD Acc | AUEG LN | USD 6,9972 | 186 013 807 | 01 Dec 2025 |
| Amundi MSCI Emerging Markets SRI Climate Paris Aligned UCITS ETF DR – GBP (D) | AMEG LN | GBP 54,1126 | 635 550 | 28 Nov 2025 |
The NAV updates indicate that the ETFs maintain substantial liquidity and that their underlying holdings continue to track the MSCI Emerging Markets index.
Market Context
- Global equity markets experienced a muted start to December, with U.S. technology shares such as NVIDIA, Amazon, Microsoft, and Tesla retreating by about 5 % after a strong October run. Apple managed a modest gain in anticipation of holiday sales.
- European equities posted a slight positive trend, though the DAX declined toward the month’s end.
- Gold remained resilient, rising approximately 5 % in USD during November, reflecting investor concern about potential market bubbles.
- Bitcoin and other cryptocurrencies saw downward pressure, contributing to a broader risk‑off sentiment at the start of the month.
These dynamics underscore the sensitivity of emerging‑market exposure to global risk appetite and commodity price movements.
Outlook for MSCI Emerging Markets
Given the index’s recent volatility and the continued emphasis on risk management by institutional investors, market participants should monitor:
- Commodity price fluctuations, particularly oil and copper, which have a pronounced effect on emerging‑market economies.
- Currency movements, as many constituents are heavily denominated in local currencies that can be volatile against the USD.
- Geopolitical developments, such as trade policy changes and regional tensions, which may influence market sentiment.
The forthcoming trading days will test whether the MSCI Emerging Markets index can sustain its recent performance amid these factors.
