Wednesday, February 1, 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 slip for sixth day; Polish zloty gains ahead of c.bank decision

MtR by MtR
June 9, 2021
in Emerging Markets
0
EMERGING MARKETS-Stocks slip for sixth day; Polish zloty gains ahead of c.bank decision


By Susan Mathew

June 9 (Reuters) – Emerging market stocks fell for a sixth straight session on Wednesday, dragged down by tech heavyweights in South Korea and Taiwan, while currencies nudged higher with Poland’s zloty nearing a six-month high ahead of a central bank decision.

Mainland China shares ended the day higher after data showed factory gate prices rose at their fastest annual pace in over 12 years in May.

But MSCI’s index of EM shares fell 0.3% as stocks in South Africa, Taiwan and South Korea fell between 0.3% and 1%.

Focus is now on U.S. inflation data on Thursday to see if the economic rebound in the U.S. economy is picking up at a pace that could stoke inflation and prompt a change in the Federal Reserve’s easy monetary policy stance next week.

“While concerns about peak growth in the U.S. may have taken some wind out of the market’s sails, we think investors should look at other offsetting tailwinds,” said Mark Haefele, chief investment officer at UBS Global Wealth Management.

“We expect the cyclical recovery momentum to persist in the second half of the year, albeit with some bouts of volatility.”

With U.S. 10-year treasury yields falling to their lowest level and the dollar flat, most developing market currencies were unchanged or ticked slightly higher.

South Africa’s rand rose 0.3%. It fell 0.5% on Tuesday after the GDP data showed the economy slowed in the first quarter as expected.

Russia’s rouble also gained 0.3% to a near 11-month high ahead of an expected rate hike by the central bank on Friday.

Poland’s central bank is expected to maintain status quo, though markets are watching for more hawkish forward guidance amid rising inflation. The zloty climbed 0.2% against the euro, while other central and eastern European currencies held steady.

“Even in case of a symbolic rate hike, the real interest rate will remain clearly in negative territory over the coming quarters and will prevent a sustainable appreciation trend of the zloty medium-term,” said Commerzbank EM FX analyst Antje Praefcke.

In Latam, Peruvian socialist candidate Pedro Castillo held on to a narrow lead late on Tuesday in the country’s runoff to its presidential election, as tensions rose over contested ballots and accusations of fraud, sparking protests outside the elections office.

The sol held steady on Tuesday after hefty falls on Monday.

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 Rashmi Aich)

(c) Copyright Thomson Reuters 2021. Click For Restrictions – https://agency.reuters.com/en/copyright.html

Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent. Sign up here.

Related articles

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

August 10, 2022

Four graphs explaining…emerging market equities

August 10, 2022



Source link

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