Lates News

Due to the breakdown of peace talks in the Middle East, the escalating tensions have dampened risk sentiment and led to a fall in prices of emerging assets. The MSCI Emerging Markets Index fell by 1.2% during the Asian trading session, dragged down by technology stocks including Samsung Electronics. Most currencies in the region depreciated against the US dollar, with the Indian Rupee and South African Rand falling by over 0.7%. The Hungarian Forint performed well after the pro-European opposition party scored a landslide victory in the Hungarian parliamentary elections. Abbas Keshavani, macro strategist at Royal Bank of Canada in Singapore, said, "This fatigue has not completely disappeared, and for many energy-importing countries, it will be a slow process of 'capital outflows'. As long as energy prices remain high, importers like India and South Korea will need to pay more dollars than usual - this is actually a gradual and sustained demand for the US dollar."