MSCI Emerging Markets Index Falls 1.6% as China Tech Selloff and Middle East Conflict Hit Risk
Updated
Updated · Bloomberg · Jun 11
MSCI Emerging Markets Index Falls 1.6% as China Tech Selloff and Middle East Conflict Hit Risk
3 articles · Updated · Bloomberg · Jun 11
Summary
The MSCI Emerging Markets Index dropped as much as 1.6% on Thursday before trimming the decline to 0.4%, marking its sixth fall in seven sessions.
Alibaba and Tencent drove more than half of the benchmark's retreat after regulatory censure triggered a selloff in Chinese e-commerce shares, extending pressure already seen in AI-linked stocks.
The gauge also briefly slipped below its 50-day moving average, breaking a support level that had held for two months before recovering part of the loss.
Renewed conflict in the Middle East further weakened risk appetite, adding a broader geopolitical drag to the China-led equity slump.