Resilient Markets: Emerging Stocks Bounce Back Amid Geopolitical Tensions
Emerging market stocks showed resilience on Monday, rebounding from last week's losses despite heightened geopolitical tensions following Iran-Israel conflict. The Israel shekel appreciated against the dollar, reversing prior losses. In Central Eastern Europe, the Polish zloty and Warsaw stocks posted gains, while Hungary's forint rose and Turkey reported a budget surplus.
Emerging market stocks showcased remarkable resilience on Monday, displaying a robust recovery from last week's steep losses. Concerns loomed over the escalating Iran-Israel conflict, which added a layer of geopolitical uncertainty to global markets.
The conflict intensified on Monday as Iranian missiles struck Tel Aviv and Haifa, resulting in multiple casualties. As the Group of Seven summit commenced in Canada, challenges abounded for world leaders, notably with U.S. President Donald Trump's tariffs exacerbating global trade tensions.
Nevertheless, markets pushed aside these concerns, starting the week on a positive note. Israel's shekel increased by 2.1% against the dollar, reversing prior week's losses. International bonds in the Middle East region, including those of Israel, Saudi Arabia, and Qatar, exhibited stability throughout the day.
(With inputs from agencies.)
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