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Emerging-market shares and currencies slip on stronger dollar

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The rand, Turkey’s lira, Poland’s zloty and Russia’s rouble are all down, but Indonesia's rupiah and shares rise on election optimism

A money changer holds Indonesian rupiah notes in Jakarta. Picture: REUTERS

US stocks closed lower on Wednesday weighed by a drop in healthcare equities. Disappointing purchasing managers’ data from Europe also weighed, as investors gauged the impact on global growth. “Expectations of policy continuity and, more importantly, implementation of much needed reforms to lift GDP growth and improve infrastructure” lifted the rupiah, said analysts at Commerzbank. “The markets are pricing in an optimistic scenario over the next five years. The fact is that it is now or never for the technocrats to convince the president to implement the difficult but necessary reforms.

 

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