Trump issues ultimatum to Iran, emerging market assets "pay the price".

Odaily Odaily reports that emerging market asset prices fell as Trump's ultimatum to Iran increased the risk of further disruptions to Middle Eastern energy supplies. The MSCI Emerging Markets Index fell 2.5% in early trading on Monday, mainly due to a decline in shares of a South Korean chipmaker. Risk assets remain under pressure as the war with Iran has lasted four weeks with no signs of de-escalation. "Our view is that caution, not panic, is needed now," said Martin Schulz, head of international equities at Federide Hammer. "The duration is the main issue. The longer this situation lasts, the worse it will be." (Jinshi)