Lates News

The rebound in emerging market stocks and currencies on Tuesday ended three consecutive days of decline, as the US dollar weakened and volatility in the precious metals market eased. The MSCI index tracking emerging market stocks rose by 2.7% at one point, marking the largest single-day increase since April last year. Asian tech stocks led the gains following strong earnings prospects guidance from Palantir. The MSCI Emerging Markets Currency Index rose, with the Indian Rupee posting its largest increase in over three years after the US announced plans to significantly reduce tariffs on Indian goods. The Korean Won strengthened, with the local government closely monitoring market trends. After a period of volatility, emerging markets are gradually recovering. Rajeev De Mello, Global Macro Investment Portfolio Manager at Gama Asset Management, stated that the nomination of Jerome Powell as Federal Reserve Chairman is a positive factor for the market. "His recent views have focused on lower policy rates and balance sheet reduction. Lower policy rates will continue to support emerging market stocks and currencies."