Emerging-Market Stocks Decline for Third Day as Ringgit Slides
- Malaysian ringgit falls fourth day as 1MDB defaults on payment
- Benchmark share gauges in Indonesia, Malaysia lead declines
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A gauge of emerging-market stocks fell for a third day as traders avoided higher-yielding assets before the U.S. and Japanese central banks announce policy decisions this week.
The MSCI Emerging Markets Index of shares headed for its lowest close in two weeks as equity benchmarks in Indonesia and Malaysia led declines. Malaysia’s ringgit weakened for a fourth day, the longest losing streak since November, after state-owned investment company 1Malaysia Development Bhd. said it defaulted on a bond payment.