Singapore, 12 May 2026 – Emerging-market currencies and equities came under renewed pressure as fading hopes for a quick US-Iran peace arrangement pushed investors back toward the US dollar and lifted oil prices, weakening appetite for risk assets across developing markets.
The latest selloff reflected growing concern that the ceasefire between the United States and Iran may be close to collapse. Bloomberg reported that emerging-market currencies and stocks fell as investors reacted to the risk that the conflict could drag on, while weakness in South Korean shares also weighed on broader sentiment.
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