Emerging Market stocks diverge

Emerging market stocks diverged this past week as the US Federal Reserve indicated a possible interest rate hike in the summer.

Hungary's stock market gained 0.8 per cent as it returned to investment grade after three years in the junk category.

Greece's stocks also gained on optimism of a new EU aid deal.

Turkey's markets, meanwhile, suffered under continued political discord in recent weeks with the ousting of the country's former Prime Minister.

The new Prime Minster, Binali Yildirim, has a reportedly close relationship with current President Tayyip Erdogan. The installment weighed heavily on the lira as political favoritism is suspected.

EmergingMarketBanking

Read more at Reuters.