* Stocks rebound 0.1 pct ahead of ECB cash; oil brings
relief
* Hungarian forint steady vs euro ahead of c.bank; no change
seen
* Turkish assets rally as oil slips
By Sujata Rao
LONDON, Feb 28 (Reuters) – Emerging equities rebounded
almost 1 percent on Tuesday anticipating a second massive
liquidity injection by the European Central Bank while oil
prices provided some relief by slipping off near 10-month highs.
Markets expect another flood of cheap cash from the ECB on
Wednesday to further ease banks’ balance sheet pressures.
This has however been overshadowed in recent sessions by
Brent crude’s price surge to 10-month highs around $125 a
barrel. Oil’s 12 percent year-to-date rise has fanned fears for
the fragile world economic recovery.
Markets in oil importers such as India, South Korea and
Turkey have been pressured though a major beneficiary is oil
superpower Russia where stocks have leapt to six-month highs and
the rouble has touched 5-1/2 month highs versus the dollar.
In Asia, Korean stocks rose 1.7 percent while India bounced
1.6 percent after falling 5.3 percent in the past four sessions
. Shanghai closed higher for the 8th
straight session.
Continued…
