Emerging stocks decline as hedge funds cut positions

Emerging-market stocks fell 0.6% on Thursday, mainly due to declines in Asian technology shares. Hedge funds reduced their bullish positions in the region, following similar actions in the US and Europe. Taiwan Semiconductor, Alibaba, and Tencent were among the biggest losers. Goldman Sachs reported the largest drop in hedge fund positions in Asia in four years, with significant reductions in China. In Eastern Europe, Ukraine's dollar bonds lost gains after Russia claimed to have expelled Ukrainian troops from a key area. Serbia's central bank kept interest rates steady amid ongoing political protests, while Romania saw a surprise rise in inflation.