Its shares are up 20 percent this year, far outperforming the broader Hang Seng index, which is down 0.7 percent. Top five EM companies: http://reut.rs/2igTYtO LOSERS: EGYPTIAN POUND Egypt floated its currency in November in a move widely seen as a necessary step to help secure a $12 billion IMF loan. The http://www.marketwatch.com/(S(rnrsydaynixa5x55oiibxm45))/story/fitch-rates-citigroup-commercial-mortgage-trust-2016-p6-outlook-stable-2016-12-15 initial devaluation from its peg of 8.8 per dollar was by around a third. But as 2017 draws closer the currency is trading at more than 19 per dollar, and has lost around 60 percent of its value this year. It is the worst performing currency in the world in 2016. Egyptian pound and Nigerian naira http://reut.rs/2hQiXD9 NIGERIAN NAIRA Nigeria’s naira slumped by around 30 percent when the central bank removed its peg of 197 per dollar in June. This was the central bank’s attempt to alleviate a chronic foreign currency shortage that was choking growth in Africa’s biggest economy.
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