Emerging-Market Stocks Fall, Currencies Weaken Before Greek Vote

Emerging-market stocks fell, heading for the biggest monthly decline in a year as Greek lawmakers began to debate austerity measures and U.S. consumer spending unexpectedly stagnated in May.

The MSCI Emerging Markets Index dropped 0.3 percent to 1,112.54 at 4 p.m. in New York, bringing its retreat this month to 4.7 percent. Brazil’s Bovespa, Mexico’s IPC index and India’s Sensex rose, partially offsetting drops of more than 1 percent in the Czech Republic, Egypt and Thailand. Taiwan’s Taiex Index, Russia’s Micex and South Korea’s Kospi Index also fell. Hungary’s forint strengthened 1 percent against the dollar, while the Taiwanese Dollar depreciated 0.2 percent.