Australian coal miner Yancoal (ASX: YAL) has announced plans to prepay US$1 billion of debt, which is expected to provide a US$207 million reduction in finance costs over the loan period.
Australian shares are down 0.1pc; Liontown gets approvals for Kathleen Valley; Core Lithium completes $100m placement; West African Resources responds to Burkin Faso coup. Follow updates here.
Tencent (700.Hong Kong), and
Samsung Electronics (005930. Korea) are world-class path-breakers, miles away from yesteryear’s oil producers and state banks. “In the past, you might buy the EM index to add a little risk,” says Sara Moreno, emerging markets equity portfolio manager at Jennison Associates. “Now you’re looking at long-duration growth opportunities.”
External stars also appear to be aligning for emerging markets. A vaccine-driven global recovery should spur exports. The Biden administration should make U.S. trade policy more predictable, if not more liberal. An ultradovish Federal Reserve mutes the threat of a bump in U.S. interest rates, which would suck capital back into the dollar. “China is really coming into its own, and Fed policy is taking out a big tail risk,” says Yung-Yu Ma, chief investment strategist at BMO Wealth Management. “That’s why we like EM in 2021.”