LONDON Oct 26 (Reuters) – The Hungarian forint
was the top loser among major emerging market currencies on
Friday, falling 0.8 percent on a local media report that the IMF
was holding out on fresh loan talks.
The country’s minister in charge of talks with the Fund
quickly denied that talks had broken down after a website
reported the IMF was not prepared to return to the table unless
Budapest changed its approach to economic policy.
The rouble was also down but not as sharply as the forint,
shedding 0.24 percent against the dollar at 0939 GMT on
the back of a fall in oil prices.
The global emerging stock index fell by nearly 1
percent, with the Chinese and Russian bourses leading the losses
as growth worries and gloomy U.S. earnings ahead of the
publication of U.S. growth data hit confidence
Russian stocks fell 1.6 percent, hitting their
lowest level for seven weeks and the CSI300 Index of
the top Shanghai and Shenzhen listings closed down 3.6 percent
on the week at its lowest close since Sept. 26.
Chinese stocks were also weighed down by losses in
growth-sensitive sectors after local media reported that fund
managers were pessimistic about the fourth quarter.
The Polish bourse was down 0.93 percent, leading a
slide in Central European stocks.
© Thomson Reuters 2012 All rights reserved
