Most emerging market stocks and currencies are rising on Thursday amid a decline in oil prices from recent highs to below $80 per barrel. Earlier, pressure on EM was exerted by a possible curtailment of monetary incentives in the US and a slowdown in the economy. The MSCI stock index jumped 2.02% to 126.50, after falling to a six-week low the day before. The MSCI emerging market currency index rose 0.2%, which was caused by a decline in oil prices after an unexpected reduction in raw materials stocks in the United States. Hong Kong shares rose 3% after the announcement of housing construction plans in mainland China, which supported the securities of construction companies. The Polish zloty is trading without sharp dynamics in a pair with the euro after recently reaching a maximum of three weeks. The growth occurred against the background of an unexpected increase by the Central Bank of Poland in the interest rate by 40 basis points to 0.5%, for the first time in nine years. The Hungarian forint rose by 0.2%, the Czech crown fell by 0.1%. Also, most emerging market currencies benefited from the weakening of the dollar and from an increase in risk appetite after a highly volatile trading week.
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