Emerging market stocks fall 0.4% as Brent stays above $100
Emerging-market stocks fell to an 11-day low as higher oil prices and rising bond yields weighed on sentiment. The Indonesian rupiah breached 18,000 per US dollar and Turkish equities hit an eight-month low.
1% Brent crude futures remain above $100 Indonesian rupiah breaches 18,000 per US dollar Turkish stocks fall to eight-month low By Utkarsh Hathi Sept 29 (Reuters) — Emerging-market stocks fell to an 11-day low on Tuesday as rising bond yields and higher oil prices weighed on sentiment, with Turkish equities hitting an eight-month low. Turkey's benchmark BIST 100 fell 1% to its lowest level since January, extending the previous session's losses despite authorities lifting asset-freeze orders on 46 companies. The index is on track for its worst month since March 2020 as an investigation into alleged market manipulation involving investment funds has unsettled investors.
Elsewhere, expectations of higher for longer Federal Reserve interest rates and signs of continued resilience in the US economy have pushed Treasury yields higher in recent weeks, with both benchmark 10-year and 30-year yields remaining above 5%. Meanwhile, a stalemate in US-Iran negotiations has increased concerns about prolonged disruptions to global energy supplies, keeping investors cautious about emerging market assets. Brent crude futures retreated slightly on Tuesday, but remained above $100 per barrel. Equities in emerging Europe also came under pressure amid the broader risk-off mood.
1% lower each. Rates Uncertainty Emerging market currencies were mixed against a firmer US dollar. 39%. "Interest rates are going up globally but differences in the timing of central bank policy decisions are creating greater uncertainty and volatility in currency markets," said Barry van der Laan, senior FX strategist at Monex Europe.
1% ahead of the September inflation data, due on Wednesday. "Poland remains very sensitive to the domestic inflation trajectory and the national bank policy. Inflation is pushing near the upper bounds of the central bank's target," added van der Laan. 7% against the euro.
The South African rand was little changed against the dollar, but heading for its steepest monthly decline since March. The Top-40 index was also subdued. 6%. Indonesian stocks hit their lowest level since mid-July after a new rule from its stock exchange to remove the minimum price at which shares can trade took effect on Monday.
4%. The Indonesian rupiah breached 18,000 per US dollar for the first time in nearly two months. Highlights: * Japan's currency diplomat Mimura urges markets to heed 'very clear' warning on yen * China factories seen rebounding in September as Beijing signals more aid: Reuters poll * Vietnam's biggest bank is considering maiden public offshore bond issue, sources say For TOP NEWS across emerging markets... com;)