Emerging-Market Stocks Slip 1.1% as Samsung and SK Hynix Tumble More Than 7%
Updated
Updated · Bloomberg · Aug 3
Emerging-Market Stocks Slip 1.1% as Samsung and SK Hynix Tumble More Than 7%
3 articles · Updated · Bloomberg · Aug 3
Summary
MSCI’s developing-nation stock index fell 1.1%, its first drop in three days, after a sharp reversal in South Korean technology shares.
Samsung Electronics and SK Hynix each slid more than 7%, unwinding part of the record gains they posted on Friday and dragging the Kospi down 5%.
Friday’s rebound had been far larger—the MSCI gauge jumped 6.6%—highlighting how quickly sentiment turned in one of emerging markets’ most influential sectors.
Most emerging-market currencies still strengthened against the dollar, suggesting the equity selloff was concentrated in stocks rather than a broader retreat from developing-market assets.