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Emerging-market funds are more popular than ever. Such funds, which invest in stocks in China, India and other developing economies, attracted $26.5 billion in funds during the second quarter, according to fund-tracker EPFR Global.

That tops the prior record of $22.4 billion set in the fourth quarter of 2007; the Chinese stock market roughly doubled that year. So far this year, Chinese stocks are up about 70 percent.

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