Emerging stocks decline for third day on Chinese data
Bareksa • 15 Apr 2014
Investors look at computer screens showing stock information at a brokerage house in Fuyang (REUTERS/China Daily)
Sank the most in two months after JPMorgan Chase & Co. downgraded the stock
Bloomberg - Emerging-market stocks slid for a third day, led by Chinese shares as money-supply data signaled growth in the world’s second-biggest economy is faltering. South Korea’s won led most developing-nation currencies lower.
China Citic Bank Corp. and China Minsheng Banking Corp. (1988) tumbled more than 4 percent in Hong Kong. Great Wall Motor Co. sank the most in two months after JPMorgan Chase & Co. downgraded the stock. The won, India’s rupee and the Philippine peso weakened at least 0.2 percent versus the dollar. Infosys Ltd. (INFO) rose the most in almost two months in Mumbai after forecasting sales growth that beat analyst estimates.