Emerging-market stocks hit 13-year high
The Turkish lira rose about 1.2%, with Russia’s rouble and the rand rising 0.8% and 1%, respectively
04 January 2021 - 12:21
Bengaluru — Turkey’s lira led gains across emerging-market (EM) currencies on Monday as higher-than-expected inflation fueled expectations of tight monetary policy, while stocks in the developing world hit a 13-year high as investors hoped for a swift economic recovery in 2021.
The MSCI’s index of EM stocks jumped more than 1.1% to its highest level since late 2007, while the currencies index rose 0.6% to its highest level since early 2018, also benefiting from weakness in the dollar...
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