(Bloomberg)--Emerging-market stocks headed for the steepest weeklydrop since June while currencies weakened amid growing concerns that Chinas economic slowdown and Russias standoff with the West will spur capital outflows.
The MSCI Emerging Markets Index fell 0.9% to 935.10 as of 4:50 p.m. in Hong Kong, extending this weeks loss to 3.3%. The Hang Seng China Enterprises Index posted its biggest weekly drop since October as Tencent Holdings Ltd. and China Citic Bank Corp. slumped. Russias Micex Index tumbled to the lowest level since 2010. South Koreas won and Turkeys lira lost 0.3% versus the dollar. Indonesias equity gauge rallied 3.2% and the rupiah erased losses after Jakarta Governor Joko Widodo received the mandate to run for president.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access