Investors Steady as Israel-Iran Ceasefire Holds
Most emerging market stocks and currencies remained stable on Wednesday, as investors observed the Israel-Iran ceasefire facilitated by U.S. President Trump. Mixed market reactions were noted in the Middle East, highlighting improved risk sentiment globally. Despite relief, markets remain watchful of further developments.
Emerging market stocks and currencies showed stability on Wednesday as investors cautiously monitored the ongoing Israel-Iran ceasefire, brokered by U.S. President Donald Trump, which brought temporary calm to unsettled markets.
In the Middle East, market responses were varied. Israeli equities nudged up by 0.2%, nearing record highs, although the shekel weakened slightly. Meanwhile, Turkey's lira declined by 0.3%, while Saudi stocks continued their upward trajectory for a fifth session in a row.
Despite initial relief, market analysts, including Giulia Bellicoso from Capital Economics, emphasized a cautious outlook due to potential escalation risks. The ceasefire offered some respite after a 12-day conflict that threatened regional oil transit routes, notably through the strategic Strait of Hormuz.
(With inputs from agencies.)
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