* Stocks fall on weak Chinese corporate results
* Turkish lira at near 3-week high vs dlr
* Russia to price $7 bln 3-tranche bond
By Philip Baillie
LONDON, March 28 (Reuters) – Emerging stocks fell on
Wednesday as Chinese equities suffered their biggest one-day
percentage drop in four months and Russia was due to price $7
billion in new bonds.
MCSI’s benchmark emerging stock index fell 0.5
percent, weighed by the Shanghai stock exchange, which
slid 2.7 percent.
This was the largest one-day fall of the benchmark Chinese
index since late November, as weak corporate earnings reports
increased worries over the Chinese domestic economy.
China, the largest component of the emerging market
benchmark index and a key driver of economic growth in emerging
markets, has seen its stocks fall for the last two weeks into
the end of the first quarter.
But returns from emerging assets have been healthy this
quarter, emerging stocks rising 14.5 percent so far.
Continued…
