Emerging-market shares and currencies slip on stronger dollar
The rand, Turkey’s lira, Poland’s zloty and Russia’s rouble are all down, but Indonesia's rupiah and shares rise on election optimism
Bengaluru — Emerging-market shares slipped in lacklustre trade on Thursday ahead of a long Easter holiday as they tracked a dip on Wall Street overnight, while developing currencies also lost ground against a stronger dollar. MSCI’s index of emerging-market shares fell 0.6% as most shares across the developing world were well in the red, while its currency index was 0.2% lower with the Turkish lira leading losses. US stocks closed lower on Wednesday weighed by a drop in healthcare equities. Disappointing purchasing managers’ data from Europe also weighed, as investors gauged the impact on global growth. “Investors are becoming cautious given that most of the good news about trade and the economic data are largely priced in, but very little downside has been discounted,” said Simona Gambarini, a markets economist at Capital Economics. “So if, as we expect, the global economy doesn’t rebound as current high equity prices seem to imply, emerging-market equities could fall sharply.” In...
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