Emerging Market Stocks Extend Rout With Currencies; Ruble Slides - Bloomberg

Emerging Market Stocks Extend Rout With Currencies; Ruble Slides - Bloomberg:



"Emerging-market stocks fell for an eighth day and currencies slid on speculation the U.S. is moving closer to raising interest rates and on signs China’s economy is slowing. Russia’s ruble weakened to a record for a third day.



The MSCI Emerging Markets Index dropped 0.5 percent to 1,055.78, posting the longest rout since a 10-day loss in November. Russia’s Micex Index slid 0.3 percent, while stock markets in the Czech Republic and Saudi Arabia lost at least 0.7 percent. Brazil’s Ibovespa rallied following the worst weekly drop since May 2012.



Data on Chinese industrial production and retail sales over the weekend missed estimates, underscoring the risks of a deeper slowdown. Some of the factors that becalmed developed nations are raising risks for emerging markets, the Bank for International Settlements said. China Life Insurance Co. (2628) helped drag Hong Kong-traded Chinese shares to a five-week low."



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