The US dollar remains firm, though is seeing little net movement since late yesterday. The fragile stability in emerging markets that was seen yesterday carried into today's activity. The MSCI Emerging Market equity index is up about 0.6%. We note that although although reports show a continued exodus from emerging markets, both Taiwan and Korea experienced net inflows of foreign equity purchases this week. Taiwan reported net foreign purchases of about $400 of local shares. Korea reported $1.1 bln inflow into its equities and this brought the month-to-date figure to almost $2 bln. Also the Shanghai Composite rose 2% ... (full story)