Emerging Markets Hit as US Factory Data Affects Traders

Emerging-market stocks and currencies were impacted by fresh US factory data, leading to a reassessment of interest rate cut expectations in the US. The MSCI gauge for EM stocks closed lower, while its currency counterpart edged lower after trimming losses. Thin global liquidity due to Easter Monday closures in various markets contributed to declines in developing-nation currencies. The Brazilian real and the Hungarian forint experienced significant decreases among these currencies.