Emerging stocks fall on weak currencies, capital outflows
September 5, 2014 8:57 am
Emerging-market stocks declined for the second consecutive day as a basket of currencies weakened on speculations that the strengthening dollar will drive developing nations to produce capital outflows.
The MSCI Emerging Markets shed 0.4% to 1,095.80, 1:26, Hong Kong time. The gauge’s weekly gain was cut down to 0.7% as it heads for a fourth week of rally.
The European Central Bank announced an unexpected cut on interest rates in the previous trading day. It has also decided to buy securities which are privately owned. The US jobs data is due tonight while Chinese exports report will be released next week.
Samsung Electronics Co. lead the declines in South Korea. In Taiwan, Catcher Technology Co. shed 1.5% as the Apple Inc. supplier tried to deflect accusations of unsafe labor practices in a Chinese factory.
Chief investment officer at Phillip Capital Management, Ang Kok Heng, commented to Bloomberg that there were some equity sales and that any outflows from it will be only short-term.
The material has been provided by InstaForex Company – www.instaforex.com
Emerging-market stocks declined for the second consecutive day as a basket of currencies weakened on speculations that the strengthening dollar will drive developing nations to produce capital outflows.
The MSCI Emerging Markets shed 0.4% to 1,095.80, 1:26, Hong Kong time. The gauge’s weekly gain was cut down to 0.7% as it heads for a fourth week of rally.
The European Central Bank announced an unexpected cut on interest rates in the previous trading day. It has also decided to buy securities which are privately owned. The US jobs data is due tonight while Chinese exports report will be released next week.
Samsung Electronics Co. lead the declines in South Korea. In Taiwan, Catcher Technology Co. shed 1.5% as the Apple Inc. supplier tried to deflect accusations of unsafe labor practices in a Chinese factory.
Chief investment officer at Phillip Capital Management, Ang Kok Heng, commented to Bloomberg that there were some equity sales and that any outflows from it will be only short-term.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: