Emerging-market stocks fell 1.2% as technology shares slid, while the dollar touched a 19-month high and pressured some currencies. Indonesia's rupiah hit a record low, and MSCI removed Barito Pacific from its global standard index while adding four Indian stocks.
Emerging-market stocks fell on Thursday as Asian technology shares came under pressure, while currencies were mixed and the dollar remained strong on expectations of further U.S. rate hikes. MSCI's emerging-market equity index dropped 1.2%, while its currency index was little changed.
Indonesia's rupiah slid to a record low against the dollar, while the country's stock index rose 2.7%. MSCI removed Indonesian energy group Barito Pacific from its global standard index in its November review, added four Indian companies and increased the weights of 11 others. South Korea's benchmark fell 0.6% and Taiwan's fell 2.6% as technology stocks led regional losses.
Turkey's central bank raised its end-2027 inflation forecast to 21% and its end-2028 forecast to 13.5%; Governor Fatih Karahan said it would maintain a tight policy stance until prices stabilised. Sri Lankan President Anura Kumara Dissanayake said the country had enough liquidity to repay $2.9 billion of debt due in 2027 and $3.5 billion due in 2028.
