There has been a range of responses amongst emerging markets to the Covid-19 crisis. The macroeconomic and financial impact has varied across countries, as have the political and policy responses. Overall, countries in North Asia have coped better than other emerging markets – and moreover have handled the crisis better than most developed markets. Given that North Asia accounts for more than 60% of the MSCI Emerging Markets universe, this has important implications for investors. Dimitri Chatzoudis, Portfolio Manager Emerging Markets, and Jan de Bruijn, Client Portfolio Manager, will discuss some of these implications. Amongst other conclusions, they argue that country allocation and stock selection are now more important than ever.