Emerging markets took a beating on Tuesday as a surge in political risks in Europe and a fall in Chinese reserves below $3 trillion boosted the dollar, with MSCI's equity index snapping a four-day winning streak. Most emerging currencies fell against the resurgent dollar, especially after data showed Chinese reserves at $2.998 billion, the lowest since Feb 2011, underscoring the country's capital outflows problem. The yuan also weakened against the dollar in the non-deliverable forwards market to 6.9865, the lowest since November. This spurned investors to shift money from equities to government bonds, pushing MSCI's emerging equity index down 0.3 percent off seven-month highs. For CENTRAL EUROPE market report, seeFor TURKISH market report, seeFor RUSSIAN market report, see )(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)

Source: dna February 07, 2017 10:16 UTC