{"id":12711,"date":"2012-07-24T13:24:41","date_gmt":"2012-07-24T11:24:41","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/emerging-markets-stocks-eye-3-12-week-low-china-supports\/"},"modified":"2012-07-24T13:24:41","modified_gmt":"2012-07-24T11:24:41","slug":"emerging-markets-stocks-eye-3-12-week-low-china-supports","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/emerging-markets-stocks-eye-3-12-week-low-china-supports\/","title":{"rendered":"EMERGING MARKETS-Stocks eye 3-1\/2 week low, China supports"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON, July 24<\/span> (Reuters) &#8211; Emerging stocks hovered above<br \/>\nthe previous day&#8217;s 3-1\/2 week lows on Tuesday, as data showing a<br \/>\nslight improvement in manufacturing activity in China took some<br \/>\nof the edge off worries that Spain may need a sovereign<br \/>\nbail-out.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Chinese stocks ended up 0.2 percent on China&#8217;s flash<br \/>\nJuly PMI data rising to its highest since February. But the<br \/>\nmarket hit its lowest this year earlier in the session on<br \/>\nconcern about China&#8217;s slowing economy.<\/p>\n<p><span><\/span><\/p>\n<p>There was little comfort from the euro zone, to which<br \/>\nemerging Europe is heavily exposed, with the euro zone flash<br \/>\nservices PMI coming in at 47.6 in July, slightly above<br \/>\nexpectations, but manufacturing at a lower than expected 44.1.<\/p>\n<p><span><\/span><\/p>\n<p>Emerging stocks dipped 0.17 percent after plunging<br \/>\n2.6 percent on Monday on concern that Spain may need a sovereign<br \/>\nbail-out after the Valencia region asked for cash.<\/p>\n<p><span><\/span><\/p>\n<p>A downgrade by Moody&#8217;s to Germany&#8217;s rating outlook late on<br \/>\nMonday added to the sour tone, while Spanish short-term debt<br \/>\ncosts jumped on Tuesday.<\/p>\n<p><span><\/span><\/p>\n<p>Russian stocks hit their lowest in nearly four<br \/>\nweeks, hurt by euro zone worries and despite a rise in oil<br \/>\nprices.<\/p>\n<p><span><\/span><\/p>\n<p>Most emerging European currencies steadied, though the<br \/>\nRomanian leu hit a fresh record low ahead of a July 29<br \/>\nreferendum to decide whether to impeach President Traian<br \/>\nBasescu.<\/p>\n<p><span><\/span><\/p>\n<p>Romanian five-year credit default swaps rose eight basis<br \/>\npoints to their highest since early June, according to Markit.<\/p>\n<p><span><\/span><\/p>\n<p>The forint was steady ahead of an expected<br \/>\nno-change Hungarian rate decision, though some analysts saw<br \/>\noptimism over credit talks with the IMF providing a window for a<br \/>\nsmall 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 24 (Reuters) &#8211; Emerging stocks hovered above the previous day&#8217;s 3-1\/2 week lows on Tuesday, as data showing a slight improvement in manufacturing activity in China took some of the edge off worries that Spain may need a sovereign bail-out. Chinese stocks ended up 0.2 percent on China&#8217;s flash July PMI data rising [&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-12711","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\/12711","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=12711"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12711\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}