Emerging Markets Halt Gain as China Exports Damp Growth Optimism
- Rand weakens as South Africa's current account deficit widens
- Investors turn their attention to ECB's stimulus program
This article is for subscribers only.
Emerging-market stocks ended a seven-day advance as the biggest drop since 2009 in Chinese exports underscored shrinking global demand.
The MSCI Emerging Markets Index halted its longest streak of gains in 11 months and a gauge of 20 developing-nation currencies retreated from the strongest level this year. Polish stocks fell from a three-month high as investors awaited the European Central Bank’s policy decisions on Thursday. Iron-ore producer Vale SA led Brazilian stocks lower. South Africa’s rand slumped as commodity prices dropped and the country’s current-account deficit widened more than economists forecast.