Emerging-Market Assets Retreat as Global Stimulus Optimism Fades
- Equities decline most in four weeks; lira leads currency drop
- Ruble strengthens for second day as crude prices rebound
Turkish Lira Tumbles on Inflation Data
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Emerging-market stocks fell the most in four weeks and currencies weakened amid deepening concern that central bank stimulus from Japan to Europe and the U.S. won’t be enough to support global growth.
The Borsa Istanbul 100 Index retreated 1.7 percent and Turkish bond yields rose as inflation quickened to 8.79 percent in July. Societe Generale SA’s Czech unit Komercni Banka AS slumped the most since 2011 after saying it was reviewing its dividend guidance. Equity gauges in India and South Korea dropped more than 1 percent. A measure of developing-nation exchange rates declined for a second day.