Emerging Assets Halt Rally in Quiet Session Amid US Holiday

Emerging-market assets halted their recent advance on Thursday, with a gauge of currencies ending the day little changed and stocks falling slightly amid thin liquidity due to the Thanksgiving holiday.

The MSCI EM currency index traded flat by the end of the session, while a sister equity gauge retreated almost 0.1%. The Brazilian real underperformed, followed by the Chilean and Colombian pesos in a reversal from strong gains in the previous day. The dollar was also little changed.