Emerging Markets Stocks and Currencies Drop on US Policy Uncertainty and Chinese Outflows
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#c82525ac ver:0.13
Most emerging markets stocks and currencies dipped on Wednesday as investors scaled back hopes of early interest rate cuts by the Federal Reserve following a blow-out inflation reading. By 0906 GMT, MSCI's index for emerging markets stocks dipped 0.1%, while a gauge of currencies lost 0.2%. Equities in South Korea ended 1.1% lower, while India's S&P BSE Sensex fell 0.1%. Year-on-year inflation in Romania rose more than expected to 7.41%. The Polish zloty was last down 0.2% against the Euro after a first estimate showed the country's GDP rose 1.0% year-on-year in the fourth quarter, below analysts' forecasts of a 1.1% rise. South Africa's rand fell 0.2% against the dollar. Markets in EM heavyweight China are closed for the Lunar New Year holidays and will resume trade on Monday, Feb. 19. Me...
#newstr #EmergingMarkets #Stocks #Fx #UsPolicy #ChineseOutflows