Emerging-Market Stocks Hit 5-Week Low as China Concerns Persist
- MSCI’s EM equity benchmark falls for ninth time in 10 days
- Latin American currencies see a reprieve after yen rally fades
Pudong's Lujiazui Financial District in Shanghai.
Photographer: Raul Ariano/BloombergThis article is for subscribers only.
Emerging-market stocks closed 0.8% lower on Thursday, falling to the lowest in five weeks as China’s second monetary-easing move this week failed to soothe concern over the country’s economic slowdown.
MSCI Inc.’s benchmark for EM equities dropped for the ninth time in 10 days and is on track for its first monthly decline since January. Chinese stocks, both in Shanghai and Hong Kong, underpinned the losses on skepticism that stimulus measures will help to revive the world’s second-biggest economy.