Global equity gains and stronger commodity prices lifted emerging stocks 0.7% yesterday, though worries about China weighed, with offshore yuan overnight rates hitting three-month highs.Data showing steadily rising US house prices and consumer confidence at its highest in more than 15 years underscored the strength of the economic recovery, boosting equity markets and allowing MSCI’s emerging stocks to rise to six-day highs.However, emerging markets face headwinds from a stronger dollar and US yields at one-week highs.Asian currencies touched multi-month lows, also feeling the heat from the yuan which has lost 6.6% against the dollar this year and is trading near …read more
Source: Gulf times
