Emerging currencies weaken led by South Africa on Fed, China

Apple Suppliers

A gauge of technology companies in MSCI’s developing-nation index was the only gainer among 10 industry groups. A measure of consumer discretionary stocks slid 1.1%, leading declines.

Largan Precision Co., a lens supplier for Apple Inc., gained 6.8% to a record in Taipei after the Commercial Times said the U.S. company will sell a lower-priced iPhone in August. Zhen Ding Technology Holding Ltd., another Apple supplier, gained 3.6%.

Hyundai Merchant Marine Co., the biggest shareholder of Hyundai Asan Corp., which manages a resort in Mount Geumgang in North Korea, jumped 15% as South Korea agreed to minister-level negotiations this week with the communist regime. The stock was the biggest gainer in South Korea’s Kospi index, which rose 0.5%. The agenda will focus on reopening the Gaeseong factory shut in April as well as resuming tourism at a North Korean luxury resort, according to the statement.

Zoomlion Heavy Industry Science & Technology Co., China’s second-largest maker of construction equipment, slumped 3% to a record in Hong Kong.

The extra yield investors demand to own emerging-market debt over U.S. Treasuries rose fell three basis points, or 0.03 percentage point, to 310 basis points, according to JPMorgan Chase & Co.’s EMBI Global Diversified Index.


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