India best emerging market in 3 months

India has been the best-performing emerging market over the three-month period ended August 2004, giving a return of 9.1 per cent compared with 5.3 per cent for Hong Kong and 4.5 per cent for Phillipines, according to a study by ABN Amro.
Thus, despite concerns about the new government, which came to power in mid-May and the subsequent crash on May 17, the markets have rebounded smartly

Not despite.
Because of concerns about the new government, the market crashed on May 17. The subsequent recovery has ensured that the three month growth rate in the stock market looks impressive on India’s resume.