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EMERGING MARKETS: Global news: October 14

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • ISRAEL - A Hezbollah drone strike killed four soldiers at a northern Israeli base, one of the deadliest attacks by the Iran-backed militia on the Jewish state in at least a year, as the army widens its offensive in southern Lebanon. More than 50 others were injured in the Hezbollah assault south of the port city of Haifa on Sunday. The incident followed a weekend of sustained rocket salvos against the area that showed the militant group can still strike at least 40km into Israel despite weeks of attacks on its commanders and missile caches.
  • CHINA - The highly anticipated Finance Ministry briefing on Saturday lacked the firepower that equity investors had hoped for, indicating that the volatility that’s gripped the market will likely extend. While Finance Minister Lan Fo’an promised more support for the struggling property sector and hinted at greater government borrowing, the briefing didn’t produce a headline dollar figure for fresh fiscal stimulus. A lack of new incentives to boost consumption is another reason why traders may feel disappointed.
  • US/UKRAINE - Hungarian PM Viktor Orbán is preparing to serve up a major policy gift for former US President Donald Trump. He’s concocted a way to let Trump, if he successfully makes it to the White House for a second term, wriggle out of a $50bn loan the US, the EU and leaders of the G7 offered to Ukraine to back its fight against Russia. That would allow Trump to tell Republican voters that, if elected, he won’t give Ukraine another cent.
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  • ISRAEL - A Hezbollah drone strike killed four soldiers at a northern Israeli base, one of the deadliest attacks by the Iran-backed militia on the Jewish state in at least a year, as the army widens its offensive in southern Lebanon. More than 50 others were injured in the Hezbollah assault south of the port city of Haifa on Sunday. The incident followed a weekend of sustained rocket salvos against the area that showed the militant group can still strike at least 40km into Israel despite weeks of attacks on its commanders and missile caches.
  • CHINA - The highly anticipated Finance Ministry briefing on Saturday lacked the firepower that equity investors had hoped for, indicating that the volatility that’s gripped the market will likely extend. While Finance Minister Lan Fo’an promised more support for the struggling property sector and hinted at greater government borrowing, the briefing didn’t produce a headline dollar figure for fresh fiscal stimulus. A lack of new incentives to boost consumption is another reason why traders may feel disappointed.
  • US/UKRAINE - Hungarian PM Viktor Orbán is preparing to serve up a major policy gift for former US President Donald Trump. He’s concocted a way to let Trump, if he successfully makes it to the White House for a second term, wriggle out of a $50bn loan the US, the EU and leaders of the G7 offered to Ukraine to back its fight against Russia. That would allow Trump to tell Republican voters that, if elected, he won’t give Ukraine another cent.