Traders remained torn as emerging markets await central bank decision in the US and Japan.
The odds of the US Federal Reserve raising the interest rate has narrowed to 16 per cent from 28 per cent one week ago.
Volatility in emerging market asset prices have widened as investors eagerly anticipate the decisions of the Federal Reserve and Bank of Japan.
“The most pressing issue right now is lingering fears of a Fed hike next week. The FOMC would risk making a historic mistake by hiking now. I think the rally will resume after the Fed decision next week, if not earlier. The conditions for it are still present," said Per Hammarlund, the chief emerging-market strategist at SEB SA.
Read more at Bloomberg.