Emerging-Market Stocks Slide as Higher Bond Yields Reduce Appeal
This article is for subscribers only.
Emerging-market stocks fell for the first time in three days as a global rout in bonds reduced the appeal of equities relative to debt yields.
Bonds from South Africa to Poland declined, tracking losses in Europe and Japan. Bank of China Ltd. led the Hang Seng China Enterprises Index down 1.5 percent. Indian shares retreated after posting their biggest two-day gain in a year. Iron-ore producer Vale SA led Brazilian stocks lower, pushing the Ibovespa to the lowest level this month. The ruble rallied as oil, Russia’s biggest export, ended a three-day losing streak.