Emerging Stocks Halt Advance as Hormuz Tensions Come Into Focus
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Emerging-market stocks halted their advance as Middle-East tensions boosted oil prices.
- ✓The MSCI gauge for EM stocks fell 1% on Wednesday, while South Korea’s Kospi Index slipped 2%.
- ✓Bassel Khatoun said, “Many EM companies play an important role in building the technology that supports AI,” keeping some investors feeling hopeful.
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- MARKET
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- Livemint
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- 2 Minute(s)
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- India Economy
(Bloomberg) -- Emerging-market stocks halted their advance and an index gauging the asset class’s currency returns declined as a flare-up in Middle-East tensions boosted the oil price and the dollar.
The MSCI Inc. gauge for EM stocks fell for only the second day in five, declining 1%, with South Korea’s Kospi Index slipping 2%, its worst day so far this month. A concurrent index for developing-nation currencies fell 0.1%, with the units of oil-importers such as Hungary leading the retreat.
The latest flare-up in geopolitical tensions comes from Iran, which ratcheted up the pace of attacks on tankers in the Strait of Hormuz, sending Brent crude prices to more than $101 per barrel. The attacks come just as as oil shipments through one of the world’s most important energy waterways finally return to near prewar levels.
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