Emerging-market equities lost momentum on Aug. 18, ending a four-session advance as a broader risk-off tone weighed on sentiment. The MSCI Emerging Markets equity index fell 0.7%, with declines in Samsung Electronics and Taiwan Semiconductor Manufacturing Co. among the main drags. Emerging-market currencies also retreated, with the currency index down 0.1% from a record high, while the U.S. dollar strengthened for the first time in four days. The move came as a global bond sell-off and rising oil prices added pressure across risk assets. Chris Turner, global head of markets at ING, said heavy selling in the long end of the U.S. Treasury market is usually negative for emerging-market currencies and risk sentiment more broadly, according to Jin10.
Emerging-market stocks ended a four-day climb on Aug. 18, while the currency gauge pulled back from a record high, according to BlockBeats, citing Jin10.
A global bond sell-off and higher oil prices put pressure on risk sentiment. The MSCI Emerging Markets equity index fell 0.7%, led lower in part by declines in Samsung Electronics and Taiwan Semiconductor Manufacturing Co. The emerging-market currency index slipped 0.1%, and the U.S. dollar strengthened for the first time in four days.
Chris Turner, global head of markets at ING, said large-scale selling in the long end of the U.S. bond market is usually bad news for emerging-market currencies and for risk broadly.
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