Emerging market stocks declined again

The decline in emerging markets stocks continued on December 30. The main reason for the decline in shares of developers in China was the postponement in the due payment by the residential real estate operator China Evergrande, whose shares on Thursday fell 9.1%. The Turkish national currency has suffered again due to worries about the future decisions of the Turkish Central Bank on monetary policy. During Thursday’s trading, the lira lost 3.5% to 13.05 lira per dollar. Its losses for the entire current year amounted to approximately 42%. For comparison, the currencies index of emerging markets MSCI at the end of the year rose by 0.8%. Government measures to bolster Turkey’s national currency helped it gain 50% after falling to historic lows a week earlier. However, this did not improve business sentiment in the country, as indicated by the fall of the corresponding index this month by 1.8%. Growth on December 30 was demonstrated by almost all stock exchanges of emerging markets. The exception was the Taiwanese and South Korean stock exchanges.

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Arseny Kudrin

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