Emerging Markets Fall Over Night on Growth and Earnings Concerns

“Emerging-market stocks fell for a sixth day, dragging a benchmark index (HSCEI) to a two-week low, on concern a deepening global economic slowdown will weigh on earnings.

The MSCI Emerging Markets Index lost 0.2 percent to 932.73 as of 10:43 a.m. in London, poised for the longest losing streak since May 18. Tamweel PJSC (TAMWEEL) slid 3.9 percent, the most in more than a month, after the Dubai-based mortgage lender reported a 33 percent drop in second-quarter profit. Russia’s Micex Index (INDEXCF) retreated 1 percent, while Poland’sWIG20 Index (WIG20) slipped to the lowest in more than two weeks. China Southern Airlines Co., the nation’s biggest carrier by passengers, dropped 2.2 percent in Shanghai trading after saying first-half profit may fall more than 50 percent.”

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