Emerging Stocks Drop to Four-Month Low After Hong Kong Protests - Bloomberg

Emerging Stocks Drop to Four-Month Low After Hong Kong Protests - Bloomberg:



"Emerging-market stocks headed for a four-month low as clashes between police and pro-democracy protesters dragged Hong Kong-traded Chinese shares lower. Indonesia’s rupiah led a drop for developing-nation currencies.



China Construction Bank Corp. and PetroChina Co. (857) sank at least 2 percent as the Hang Seng China Enterprises Index (HSCEI) fell to a two-month low. The rupiah sank to a seven-month low versus the dollar as an election law spurred outflows. South Korea’s won dropped the most since January. The Russian ruble weakened to a record low and Turkey’s lira decreased 0.6 percent.



The MSCI Emerging Markets Index declined 0.6 percent to 1,017.86 at 9:03 a.m. in London. The gauge has lost 3.1 percent this quarter, set for the steepest slump since June 2013. Pro-democracy protesters vowed to press ahead with demonstrations unless Hong Kong’s top official steps down, with thousands of people surrounding government offices after violent clashes paralyzed the city center. Indonesia’s outgoing parliament passed a law last week scrapping direct regional elections."



'via Blog this'