Its not emerging per se, but HSI is one that does it own things. After the bloodbath today I would not be surprised to see all markets move in tandem for the next 24 hours.
Any market that is "emerging" is almost certainly highly dependent on the US economy (and American consumers). The rest generally don't have a market to speak of.
(I do recognize the gross generalization contained in this post and I honestly don't care. Further, I am in no way concerned with the accuracy of this or any other post that I have issued or may issue in the future.)