[...] ruling parties win majority By Susan Mathew May 27 (Reuters) - Emerging market shares rose on Monday and developing market currencies firmed a
[…] ruling parties win majority
By Susan Mathew
May 27 (Reuters) – Emerging market shares rose on Monday and developing market currencies firmed against a recovering dollar, although central and Eastern European currencies weakened after the European Union parliamentary vote showed deep political fragmentation.
While the U.S.-China trade war loomed large, MSCI’s index of emerging market shares rose 0.16% after three straight weeks of losses.
With the […] largely positive Asia, closing more than 1% higher on hopes of policy support Beijing to ease the pain U.S. tariffs.
The yuan led Asian currencies higher after China’s banking and insurance regulator said it did not expect a persistent decline in the yuan and warned speculative short sellers they would suffer “heavy losses†if they bet against the currency. Asian optimism spread into European trading hours, with Turkey’s lira and stocks rallying strongly.
In a move to support stability, Turkey’s central bank increased the reserve requirement ratios for forex deposits and participation funds by 200 basis points for all maturity brackets, possibly withdrawing $4.2 billion of forex liquidity the market.
South Africa’s rand slipped slightly after trading steady early in the session, as markets await an announcement on President Cyril Ramaphosa’s new cabinet following his inauguration.
In central and eastern Europe, most currencies slipped against the euro while stocks largely gained, as they mulled EU parliamentary elections that saw pro-Europe parties retain their majority.
COMMENTS