JAKARTA [IFN] -- Stock emerging markets closed lower after experiencing the longest rally in seven months on fears of China's economic slowdown will depress corporate earnings.
MSCI Emerging Markets Index fell 0.2% to a level of 976.15. A number of companies ranging from the Agricultural Bank of China Ltd. to Huaneng Power International Inc. recorded revenues below forecasts.
The Shanghai Composite Index fell 0.8% after posting strengthening the longest since May 1992. The Hang Seng China Enterprises Index of Hong Kong fell 0.3%, putting pressure on the company's profits this year.
Ibovespa index rose 0.7%, while the Tadawul All Share Index Saudi Arabia recorded the biggest weakness in the global benchmark index.
"Concerns about weakening economic growth in China's impact on the market today," said Timothy Ghriskey, chief investment officer of Solaris Asset Management LLC said in a report on Thursday (26/03/2015).
According to him, speculation about the civil war in Yemen also have an impact on investor sentiment.
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