Emerging Market Assets Rally in Volatile Session as Oil Whipsaws
Seoul’s Kospi index was among the biggest gainers globally, reversing the previous day’s 6% slide.
Photographer: Jung Yeon-Je/AFP/Getty ImagesEmerging-market assets broadly advanced Tuesday in a volatile session, as mixed signals from the US administration rattled global markets and sent oil prices swinging.
A gauge tracking emerging-market currencies closed the session 0.9% higher, recording its largest daily advance since December 2023. The index had gained as much as 1.1% earlier in the session after US Energy Secretary Chris Wright erroneously posted — and then deleted — a message that the US Navy had escorted an oil tanker through the Strait of Hormuz.