EM Review: Vaccine Optimism Powered Risk Assets to Weekly Gain
- Moderna, Pfizer said Covid-19 vaccines were 95% effective
- Turkey raises rates; Indonesia, Philippines unexpectedly cut
A health worker handles blood samples during clinical trials for a Covid-19 vaccine in Hollywood, Florida.
Photographer: Eva Marie Uzcategui/BloombergThis article is for subscribers only.
Emerging-market equities and currencies last week rose for a third week amid optimism over progress toward a coronavirus vaccine. Moderna Inc. and Pfizer Inc. announced promising clinical trial results just as countries from the U.S. to Japan imposed stricter restrictions to combat rising infections. Turkey’s central bank raised interest rates, boosting the lira, while authorities in Indonesia and the Philippines unexpectedly cut borrowing costs and South Africa held rates unchanged.
The following is a roundup of emerging-market news and highlights for the week through Nov. 22: