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BlockBeats News, August 18th. The emerging market stock benchmark index ended a four-day winning streak, while the currency index pulled back from its historical high. Global bond sell-off coupled with rising oil prices put pressure on market risk sentiment.
The MSCI Emerging Markets Stock Index dropped by 0.7%, mainly dragged down by Samsung Electronics and TSMC. The Emerging Markets Currency Index fell by 0.1%, with the U.S. dollar seeing its first uptick in four days.
Chris Turner, Global Head of Markets at ING, stated that a massive sell-off in the U.S. long-bond market is usually bad news for emerging market currencies and overall risk sentiment. (FXStreet)
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