Emerging Markets Steady Amid South Korea's Political Drama

Emerging market equities showed resilience, rising slightly as Wall Street gained overnight. South Korea's won stabilized despite political turmoil following President Yoon Suk Yeol's martial law declaration. Meanwhile, Russia's rouble rose ahead of potential interest rate hikes, and global markets watched for signals from the U.S. Federal Reserve.

Emerging market equities edged higher on Wednesday, fueled by overnight gains on Wall Street. Investors, however, remained cautious amid ongoing political unrest in South Korea.

The South Korean won steadied at 1,414 per dollar thanks to suspected government intervention, following a steep drop due to President Yoon Suk Yeol's controversial martial law declaration, later retracted.

Elsewhere, Russia's rouble benefited from speculation of an impending interest rate hike, while central banks in emerging markets, including the Czech Republic and Namibia, fine-tuned their monetary policies.

(With inputs from agencies.)