LONDON, June 21 (Reuters) – Emerging stocks fell 1 percent
on Thursday, after four straight days of gains, and emerging
European currencies mainly weakened after Chinese and European
data unnerved investors.
Chinese stocks slid 1.4 percent after data showed
China’s manufacturing sector contracted for an eighth straight
month in June.
Germany’s private sector shrank for the second month running
in June.
Global emerging equities retreated from one-month
highs set in the previous sessio, reflecting disappointment that
the U.S. Federal Reserve announced only limited expansion of
monetary stimulus on Wednesday.
Most regional currencies fell, but hopes for IMF financial
support helped Hungary’s forint after Budapest
submitted new amendments to its disputed central bank law to
parliament to implement changes agreed with the IMF.
The Turkish lira stayed close to the previous
session’s five-week highs after the central bank left rates on
hold but raised lira required reserves that can be held in forex
and gold.
Index provider MSCI put Greece on review for a move to
emerging market status late on Wednesday.
(Reporting by Carolyn Cohn)
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