South Africa Leads Rebound in Emerging Markets Hit By Iran Conflict

South Africa Leads Rebound in Emerging Markets Hit By Iran Conflict.

• South Africa’s rand soared the most in nine years, government bond yields tumbled and stocks surged as investors piled back into emerging-market assets that were worst-hit by the Middle East conflict
• The rand had weakened most among emerging-market currencies since the start of the war through Tuesday, falling more than 5% against the dollar
• On Wednesday, South Africa’s currencyled gainsas it strengthened 2