{"id":12604,"date":"2012-07-20T13:05:31","date_gmt":"2012-07-20T11:05:31","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/emerging-markets-stocks-stable-rand-falls-further\/"},"modified":"2012-07-20T13:05:31","modified_gmt":"2012-07-20T11:05:31","slug":"emerging-markets-stocks-stable-rand-falls-further","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/emerging-markets-stocks-stable-rand-falls-further\/","title":{"rendered":"EMERGING MARKETS-Stocks stable, rand falls further"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON, July 20<\/span> (Reuters) &#8211; Emerging stocks were steady on<br \/>\nFriday as concerns about the euro zone debt crisis dampened risk<br \/>\nappetite and a drop in oil prices hurt Russian stocks, while the<br \/>\nSouth African rand continued to weaken after an unexpected<br \/>\ninterest rate cut.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>MSCI&#8217;s emerging equity index was down just 0.07<br \/>\npercent at 940.48, giving up brief early gains as concerns over<br \/>\nSpain&#8217;s financial situation continued to weigh on global risk<br \/>\nappetite, dampening demand for emerging market assets.<\/p>\n<p><span><\/span><\/p>\n<p>The index, however, was poised for a weekly gain after<br \/>\nfalling 2 percent last week.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Sentiment has been relatively benign in recent days, and<br \/>\ntoday we see a bit of risk-off mood, which means most EMs are<br \/>\nunder pressure. But it&#8217;s not really news driven,&#8221; said Thu Lan<br \/>\nNguyen, emerging market strategist at commerzbank in Frankfurt.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The periphery (euro zone) countries are a concern but<br \/>\nthat&#8217;s nothing new.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Russian stocks fell 0.73 percent as the price of<br \/>\noil, Russia&#8217;s chief export, slipped toward $107 a barrel after<br \/>\nits near 18 percent rally over four weeks prompted profit<br \/>\ntaking.<\/p>\n<p><span><\/span><\/p>\n<p>Chinese stocks fell 0.74 percent for their fifth<br \/>\nweekly loss, driven by weakness in growth stocks.<\/p>\n<p><span><\/span><\/p>\n<p>The rand weakened 0.3 percent against the dollar, after<br \/>\nsliding 0.2 percent on Thursday following the central bank&#8217;s<br \/>\nsurprise move to cut interest rates to a record low 5 percent to<br \/>\nsupport the economy.<\/p>\n<p><span><\/span><\/p>\n<p>Analysts though said the rand&#8217;s weakness was more a<br \/>\nreflection of concerns about confidence in the global economy<br \/>\nthan a reaction to the rate cut.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON, July 20 (Reuters) &#8211; Emerging stocks were steady on Friday as concerns about the euro zone debt crisis dampened risk appetite and a drop in oil prices hurt Russian stocks, while the South African rand continued to weaken after an unexpected interest rate cut. MSCI&#8217;s emerging equity index was down just 0.07 percent at [&hellip;]<\/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-12604","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\/12604","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=12604"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12604\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}