Emerging Markets Waver Amid Thin Holiday Trading, Fed Anxiety
Infosys climbed, contributing most of the MSCI gauge’s gains.
Photographer: Aparna Jayakumar/BloombergEmerging-market assets were little changed on Tuesday as traders weighed the recent optimism toward the asset class against a firmer US dollar and thinner trading volumes due to holidays in major markets.
An MSCI Inc. gauge of developing-nation equities slipped 0.1% but is still hovering near record highs. Trading volumes were lower as Asian exchanges closed for the Lunar New Year and Brazilian markets shut for the Carnival holiday. Currencies were mixed, with South Africa’s rand and Chile’s peso pressured by lower metals prices, while Colombia’s peso rallied on expectations that its carry appeal will remain strong.