- What Investors Need to Know About Nigeria's New Exchange Window
- Kenyan Opposition Chooses Odinga to Run Against Kenyatta
- Guinness Nigeria records 29% growth in revenue in Q3
- Mozambique MPs Back State Guarantees for Previously Hidden Debt
- Nigeria Senator Says Work on 2017 Budget Stalled by Police Raid
LAGOS (Capital Markets in Africa) – An index of emerging-market stocks retreated, paring its biggest monthly gain since March, as concern over the new U.S. administration’s unpredictability prompted investors to avoid riskier developing-nation assets. Yields on developing-nation bonds rose relative to U.S. Treasuries, though the Brazilian real and Polish zloty led gains in currencies against a weakening dollar.
Equities in India, Russia, the United Arab Emirates, Egypt, the Philippines, Malaysia, South Korea and Qatar led emerging stocks lower. MSCI’s developing-nation currency index climbed for a third day.
While emerging market stocks were poised to clock up their best January since 2012, U.S. President Donald Trump rattled traders with an immigration clampdown that sparked demonstrations across the world and drew criticism from foreign governments. With the Federal Reserve seen keeping rates unchanged on Wednesday, investors are watching for any interpretation from policy makers of Trump’s impact on the economic outlook and U.S. borrowing costs.