{"id":12234,"date":"2012-07-09T12:24:43","date_gmt":"2012-07-09T10:24:43","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/emerging-markets-stocks-fall-1-pct-egypt-plunges\/"},"modified":"2012-07-09T12:24:43","modified_gmt":"2012-07-09T10:24:43","slug":"emerging-markets-stocks-fall-1-pct-egypt-plunges","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/emerging-markets-stocks-fall-1-pct-egypt-plunges\/","title":{"rendered":"EMERGING MARKETS-Stocks fall 1 pct, Egypt plunges"},"content":{"rendered":"

\t\t<\/span><\/p>\n

LONDON, July 9<\/span> (Reuters) – Emerging stocks dropped 1 percent
\nto 10-day lows on Monday, as weak Chinese inflation data
\nreversed recent gains fuelled by optimism over the euro zone,
\nwhile Egyptian stocks slid after the country’s new president
\nordered parliament to reconvene.<\/span><\/p>\n

<\/span><\/p>\n

Chinese stocks fell 2.4 percent to a six-month low
\nafter data showing Chinese consumer and producer prices falling
\nmore than expected in June, signalling falling demand for goods
\nfrom the world’s second-biggest economy.<\/p>\n

<\/span><\/p>\n

The prospect of a slowdown in China and the euro zone debt
\ncrisis have been two of the main factors eating into emerging
\nmarket performance in the past two years.<\/p>\n

<\/span><\/p>\n

Euro zone finance chiefs will try to flesh out plans to
\nreinforce the single currency in talks in Brussels on Monday.<\/p>\n

<\/span><\/p>\n

“It’s not super-surprising that Chinese inflation is coming
\nin a little bit lower than expected. It’s showing there’s some
\nunderlying deceleration of demand in the economy,” said Luis
\nCosta, emerging markets strategist at Citi, adding:<\/p>\n

<\/span><\/p>\n

“Bad economic news out of western Europe hits central Europe
\nright in the face.”<\/p>\n

<\/span><\/p>\n

Benchmark emerging equities fell 1 percent from
\nFriday’s close and are down more than 2 percent from six-week
\nhighs set last week.<\/p>\n

<\/span><\/p>\n

Emerging European currencies were mostly weaker though the
\nRomanian leu held above record lows set on Friday
\nafter Romania’s government suspended President Traian Basescu on
\nFriday, ruling he had overstepped his powers.<\/p>\n

<\/span><\/p>\n

The cost of insuring Romania’s debt against default rose 22
\nbasis points to 445 bps in the five-year credit default swap
\nmarket, according to Markit.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

LONDON, July 9 (Reuters) – Emerging stocks dropped 1 percent to 10-day lows on Monday, as weak Chinese inflation data reversed recent gains fuelled by optimism over the euro zone, while Egyptian stocks slid after the country’s new president ordered parliament to reconvene. Chinese stocks fell 2.4 percent to a six-month low after data showing […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-12234","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12234","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=12234"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12234\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}