{"id":12750,"date":"2012-07-25T13:31:44","date_gmt":"2012-07-25T11:31:44","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/emerging-markets-stocks-hit-7-week-lows-on-china-euro-worries\/"},"modified":"2012-07-25T13:31:44","modified_gmt":"2012-07-25T11:31:44","slug":"emerging-markets-stocks-hit-7-week-lows-on-china-euro-worries","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/emerging-markets-stocks-hit-7-week-lows-on-china-euro-worries\/","title":{"rendered":"EMERGING MARKETS-Stocks hit 7-week lows on China, euro worries"},"content":{"rendered":"

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

LONDON, July 25<\/span> (Reuters) – Emerging market stocks hit
\n7-week lows on Wednesday, weighed down by weakness in Chinese
\nequities though emerging European markets tracked their
\ndeveloped peers higher and most emerging currencies firmed
\nmodestly against the dollar and euro.<\/span><\/p>\n

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

The euro zone crisis appeared no closer to resolution, as
\nSpain paid the second highest yield on short-term debt since the
\nbirth of the euro at this week’s auction and EU officials said
\nGreece had little hope of meeting bailout terms.<\/p>\n

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

But markets were cheered by European Central Bank Governing
\nCouncil member Ewald Nowotny who said there were reasons to
\nboost the firepower of the euro zone’s new bailout fund to
\ntackle the region’s deepening debt crisis..<\/p>\n

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

Benchmark emerging stocks fell almost 1 percent
\nbefore recovering to an overall fall of 0.3 percent on the day.<\/p>\n

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

The market was weighed down by China which constitutes
\nalmost a fifth of the index. Chinese stocks fell by 0.49
\npercent, hovering just above the year’s lows first touched
\nduring Tuesday’s trading.<\/p>\n

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

Sentiment was dented by falls in property stocks and a
\nreport from the International Monetary Fund that China’s
\ncurrency was still “moderately undervalued” and that its slowing
\neconomy is exposed to the ongoing euro zone crisis.<\/p>\n

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

“China’s slowing economy faces significant downside risks
\nwith the European crisis as the biggest external influence”, SEB
\ntold clients in a note.<\/p>\n

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

The Chinese yuan touched a 10-month low against
\nthe dollar after the central bank set its weakest fixing for the
\nlocal unit in eight months, an indication the bank is keen to
\nboost growth and exports.<\/p>\n

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

Emerging European equities rose however, led by Russia which
\njumped 1 percent, while Polish and Hungarian equities
\nrallied 0.5 percent and Turkey firmed 0.4
\npercent
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

LONDON, July 25 (Reuters) – Emerging market stocks hit 7-week lows on Wednesday, weighed down by weakness in Chinese equities though emerging European markets tracked their developed peers higher and most emerging currencies firmed modestly against the dollar and euro. The euro zone crisis appeared no closer to resolution, as Spain paid the second highest […]<\/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-12750","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\/12750","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=12750"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12750\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}