Emerging market equities rallied Wednesday after declining 5% in the previous three sessions. The reason for the strengthening was the completion of sales in the Chinese stock markets. Now the focus of market participants' attention is the results of the meeting of the US Federal Reserve System, at which, possibly, signals about the curtailment of incentives will sound. The MSCI Emerging Markets Index climbed 0.5%. Exchanges in Turkey and Eastern Europe rose 0.4-0.6%. Additional support for emerging market currencies was brought by the general weakness of the US dollar and a narrow range of its fluctuations ahead of an important meeting of the regulator. In particular, the Chinese yuan rose for the first time in five sessions, to 6,512. The Turkish lira rose to 8.5665. The Hungarian forint retreated from three-month lows after the central bank raised rates by 30 basis points to 1.2%, stronger than expected. The South African rand rose to 14.8203.
