Big energy importers in emerging markets were expected to benefit from plunging oil prices, but with China’s growth slowing and their exports dwindling, only a handful have been able to capitalize on cheaper fuel. Investor disappointment is evident in a broad emerging market rout – Turkish and Indonesian stocks are down around 30 percent in dollar terms this year. “It’s a source of disappointment that we haven’t seen the full impact of lower commodity prices,” said Yacov Arnopolin, portfolio manager at Goldman Sachs Asset Management. Initial signs were more encouraging. Last December, the International Monetary Fund predicted that cheaper oil would boost global growth as much as 0.7 percentage points in 2015. Investors also welcomed moves by importers India and Indonesia to cut fuel […]