{"id":12676,"date":"2012-07-23T13:19:24","date_gmt":"2012-07-23T11:19:24","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/emerging-markets-stocks-slump-2-pct-russia-hit-hardest-as-oil-tumbles\/"},"modified":"2012-07-23T13:19:24","modified_gmt":"2012-07-23T11:19:24","slug":"emerging-markets-stocks-slump-2-pct-russia-hit-hardest-as-oil-tumbles","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/emerging-markets-stocks-slump-2-pct-russia-hit-hardest-as-oil-tumbles\/","title":{"rendered":"EMERGING MARKETS-Stocks slump 2 pct, Russia hit hardest as oil tumbles"},"content":{"rendered":"

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

LONDON, July 23<\/span> (Reuters) – Emerging stocks fell 2 percent
\non Monday as renewed worries about Spain’s finances hit appetite
\nfor riskier assets and shares in Shanghai fell after a central
\nbank adviser said growth in the world’s No. 2 economy could slow
\nfurther.<\/span><\/p>\n

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

In emerging Europe, Russian stocks were hardest hit, losing
\n3.6 percent, also their biggest one-day loss in two
\nmonths, as the price of oil, Russia’s chief export, fell more
\nthan $3 a barrel.<\/p>\n

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

The Russian rouble and the South African rand were also hit
\nby worries about the euro zone, falling more than 1 percent
\nagainst the dollar as concerns about Spain made investors
\nglobally more risk averse.<\/p>\n

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

Ten-year Spanish government bond yields soared to fresh
\neuro-era highs of 7.55 percent after two regions sought
\nsovereign aid and reignited fears the country will become the
\nnext euro zone member to seek a full international bailout.<\/p>\n

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

“For some time, markets have been shrugging off the
\ndeterioration in Spanish fixed income but there is a realisation
\nthat it poses a clear danger,” said Manik Narain, emerging
\nmarkets strategist at UBS.<\/p>\n

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

“Realisation is seeping in that Europe poses a potent
\nthreat and the underlying global economy is not strong enough to
\nweather it.”<\/p>\n

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

Emerging equities hit 10-day lows, heading for
\ntheir biggest one-day fall since end-May.<\/p>\n

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

There were also heavy falls in Asia. Shares in Shanghai
\n hit their lowest close since March 2009 as comments by
\nan adviser to the People’s Bank of China over the weekend,
\nsaying that third-quarter growth could slow to 7.4 percent, from
\n7.6 percent in the second quarter, weighed.<\/p>\n

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

Many fear that data due on Tuesday will show continued
\nweakness in the Chinese and European economies.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

LONDON, July 23 (Reuters) – Emerging stocks fell 2 percent on Monday as renewed worries about Spain’s finances hit appetite for riskier assets and shares in Shanghai fell after a central bank adviser said growth in the world’s No. 2 economy could slow further. In emerging Europe, Russian stocks were hardest hit, losing 3.6 percent, […]<\/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-12676","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\/12676","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=12676"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12676\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}