Emerging stocks bounced off 1-1/2 month lows on Monday, snapping a seven-day losing streak as developed equity markets steadied. This was while South African markets gained ahead of a meeting set to decide President Jacob Zuma's fate. "It's a broad-based rebound of risk appetite," said Guillaume Tresca, an emerging markets strategist at Credit Agricole. "Fundamentals in emerging markets are still quite good, growth is okay, FX reserves are fine, corporate earnings are fine, so we are not super-worried by the sell off." South African stocks chalked up some tentative gains and the rand firmed 0.4 per cent ahead of a meeting at which the ruling African National Congress (ANC) party will determine Zuma's fate.

Source: The Star February 12, 2018 11:03 UTC