Emerging-Market Stocks Rebound in Asia From $1.2 Trillion Slump

-- Emerging-market stocks rebounded in early Tuesday trading from a technology-led selloff that had erased $1.2 trillion of shareholder wealth, with the worst-hit exchanges including Taiwan and South Korea partially recouping the previous day’s losses.Africa’s Richest City Needs $12 Billion to Fix Infrastructure

The selloff on Monday sent the MSCI stocks gauge below its 200-day moving average for the first time since January, and wobbles continued into Tuesday. Among information-technology stocks, one out of every three shares dropped.Monday’s declines had wiped out $927 billion from the combined market capitalization of EM stocks, adding to the $288 billion lost at the end of last week, according to data compiled by Bloomberg.

Local-currency bonds, however, posted advances on Monday. The Bloomberg gauge for the asset class rose for a sixth day to the highest level since March 2022.Conor Gallagher was Chelsea’s identity crisis in human form

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