Emerging-Market Stocks Fall for Third Day as Rupiah Weakens - Bloomberg

Emerging-Market Stocks Fall for Third Day as Rupiah Weakens - Bloomberg:

"Emerging-market stocks slid for a third day, led by consumer discretionary companies. Rupiah forwards dropped to a four-year low.
HTC Corp. (2498) sank 3.3 percent in Taipei after a London judge blocked the Taiwanese company from selling its One Mini phone in the U.K. PT Bank Mandiri (BMRI) paced declines by Indonesian banks as a weakening rupiah raised speculation of more interest rate increases. India’s stock index retreated for a second day as higher oil raised concerns about the nation’s inflation. The Shanghai Composite Index jumped to a six-month high as shares linked to Shanghai’s free-trade zone rallied.
The MSCI Emerging Markets Index fell 0.3 percent to 1,000.25 as of 1:42 p.m. in Hong Kong, poised for the lowest level since Nov. 14. U.S. jobs and new home sales data today may provide clues as to when the Federal Reserve will cut stimulus. Indonesia raised interest rates last month to sustain overseas demand for its currency."

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