Sunday, February 5, 2023
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home Emerging Markets

EMERGING MARKETS-Stocks break 4-day winning streak on virus fears

MtR by MtR
June 29, 2021
in Emerging Markets
0


* Chinese blue-chips down 1.2%

* Morgan Stanley says EM stocks are 2% off its target

* S&P cuts growth forecast for some Asian economies

* Russian rouble edges up; CS expects 100bps interest rate hike

By Susan Mathew

June 29 (Reuters) – A slide in Chinese shares pushed an index of emerging markets stocks into the red for the first time in five days on Tuesday, with rising coronavirus cases denting sentiment across markets.

Chinese blue-chips fell more than 1%, taking MSCI’s index of emerging market shares 0.4% lower. Investors are also looking forward to U.S. jobs data that could sway the Federal Reserve’s policy outlook.

Virus fears resurfaced as a surge in cases in some parts of Asia and Africa among others spurred worries that measures to contain the spread could undermine global economic recovery. Morgan Stanley said EM stocks are 2% off its target.

S&P on Monday cut its growth forecasts for some of Asia’s top economies including India, the Philippines and Malaysia citing slow rollout of vaccines as the top risk for emerging markets. It could still take almost two years for EM Asia to be vaccinated to 70% herd immunity, the ratings agency said

South Africa’s rand fell 0.3%, heading towards early-May lows. The country tightened curbs over the weekend as the highly contagious Delta variant first identified in India added to its woes amid slow vaccination rollouts. Less than one adult in every hundred is fully vaccinated in the sub-Saharan region, compared to an average of over 30 in more advanced economies, according to the IMF. https://blogs.imf.org/2021/06/28/sub-saharan-africa-we-need-to-act-now “The new restrictions could be a more extended delay to policy normalization, alongside a marginally weaker currency,” said Credit Suisse analysts in a note.

Russia’s rouble and bonds ticked up as investors priced in another rate hike next month after the central bank governor on Monday said a hike between 25-100 basis points was being considered. Analysts at Credit Suisse now expect a 100 bps hike to 6.50% in July.

This comes after a 50bps hike earlier this month and follows a slew of hawkish signals and some moves by many central banks across emerging markets to rein in inflation.

The rouble is yet to reach pre-pandemic levels and has underperformed oil prices too as geopolitics has weighed on the currency. U.S. Secretary of State Antony Blinken told a local newspaper that while the U.S. hopes for more stable and profitable relations with Russia, Washington will respond if Moscow continues to “attack”.

For GRAPHIC on emerging market FX performance in 2021, see http://tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance in 2021, see https://tmsnrt.rs/2OusNdX

For TOP NEWS across emerging markets

For CENTRAL EUROPE market report, see

For TURKISH market report, see

For RUSSIAN market report, see

(Reporting by Susan Mathew in Bengaluru; editing by Emelia Sithole-Matarise)



Source link

Related articles

It’s The Liquidity, Stupid – How Macroeconomics Shapes A Portfolio

August 10, 2022

Four graphs explaining…emerging market equities

August 10, 2022

Related Posts

It’s The Liquidity, Stupid – How Macroeconomics Shapes A Portfolio

by MtR
August 10, 2022
0

Whether a market is being shaped by fresh central bank liquidity or by banks taking liquidity out of an economy...

Four graphs explaining…emerging market equities

by MtR
August 10, 2022
0

Andrew Hardy Momentum Global Investment Management director of investment management The Chinese equity market has roughly halved since its peak...

Jefferies sees 15% correction in Indian markets; adds Zomato to portfolio

by MtR
August 10, 2022
0

Web Exclusive In the past one month, the S&P BSE Sensex and the Nifty50 have gained around 8 per cent...

Letter: Why Fed’s rate rise failed to rattle emerging markets

by MtR
August 10, 2022
0

One of the key reasons that we haven’t yet seen the capital outflows normally experienced by emerging market economies (EMs)...

‘The rupee is a better-performing currency against the dollar on a trade-weighted basis’: Sajjid Chinoy

by MtR
August 9, 2022
0

Sajjid Chinoy, Chief India Economist, JP Morgan and part-time member, PMEAC, on tackling challenges of rupee depreciation, getting rid of...

Load More
  • Trending
  • Comments
  • Latest

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021

Tips for checking smoke alarms during daylight saving time

March 12, 2022

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021

What will Durham County education bonds pay for? A full list

July 8, 2022
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022

U.S. inflation CPI report, Wall Street, currencies

August 10, 2022

Alberta oil production set new record in first half of 2022

August 10, 2022

Industrial Lubricants Market to Reach $71 Billion by 2027.

August 10, 2022

Recent News

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022

U.S. inflation CPI report, Wall Street, currencies

August 10, 2022

Alberta oil production set new record in first half of 2022

August 10, 2022

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter