Emerging asset prices fall after US-Iran talks fail
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Golden Ten Data reported on April 13 that tensions escalated as peace talks in the Middle East broke down, dampening risk sentiment and causing a decline in emerging asset prices. The MSCI Emerging Markets Index fell by 1.2% during Asian trading hours, weighed down by technology stocks including Samsung Electronics. Most regional currencies depreciated against the US dollar, with the Indian rupee and the South African rand both dropping more than 0.7%. The Hungarian forint performed relatively well after the pro-EU opposition achieved a landslide victory in Hungary's parliamentary elections. Abbas Keshvani, a macro strategist at RBC in Singapore, stated: "This weakness has not yet completely disappeared, and for many energy-importing countries, it will be a slow process of 'capital outflow.' As long as energy prices remain high, regions like India and South Korea will see importers needing to pay more US dollars than usual—"
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