Year-end cheer caps gloomy 2021 for emerging market stocks – The National
- Date: 31-Dec-2021
- Source: The National
- Sector:Financial Markets
- Country:Gulf
Year-end cheer caps gloomy 2021 for emerging market stocks – The National
Emerging market stocks broke a two-year winning run, but were set to end the last day of 2021 on a positive note on Friday boosted by China shares, while Turkey's lira see-sawed in thin trade after hefty losses this week.
MSCI's index of EM shares rose 0.8 per cent to three-week highs as China blue-chips climbed 0.4 per cent, while battered Hong Kong shares jumped 1.2 per cent.
On the year, however, the Chinese indexes lost as a regulatory crackdown in the country had hammered heavyweight technology, internet and gaming stocks, while debt default risks at heavily indebted real estate developer China Evergrande Group hurt the property sector.
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