Emerging-market stocks dropped for a sixth day, dragging the benchmark index (HSCEI) to a two-week low, on concern a deepening global economic slowdown will hurt earnings.
The MSCI Emerging Markets Index (MXEF) lost 0.2 percent to 932.51 as of 8:05 a.m. in New York, poised for the longest losing streak since May 18. Tamweel PJSC (TAMWEEL) slid 3.1 percent, the most in more than a month, after the Dubai-based mortgage lender reported a 33 percent plunge in second-quarter profit. Russia’s Micex Index (INDEXCF) retreated 1.5 percent, while Poland’s WIG20 (WIG20) Index slipped to the lowest in more than two weeks. China Southern Airlines Co., the nation’s biggest carrier by passengers, dropped 2.2 percent in Shanghai after saying first-half profit may fall more than 50 percent.
No comments:
Post a Comment