{"id":13054,"date":"2012-08-01T13:53:04","date_gmt":"2012-08-01T11:53:04","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/emerging-markets-cautious-creeps-in-ahead-of-fed-ecb\/"},"modified":"2012-08-01T13:53:04","modified_gmt":"2012-08-01T11:53:04","slug":"emerging-markets-cautious-creeps-in-ahead-of-fed-ecb","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/emerging-markets-cautious-creeps-in-ahead-of-fed-ecb\/","title":{"rendered":"EMERGING MARKETS-Cautious creeps in ahead of Fed, ECB"},"content":{"rendered":"

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

LONDON<\/span> Aug 1 (Reuters) – Emerging equities traded near flat
\non Wednesday after four days of gains as caution crept in ahead
\nof monetary policy meetings in the United States and Europe,
\nwhile Chinese markets shrugged off weak factory data to rise 1
\npercent.<\/span><\/p>\n

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

Despite weak data most analysts still only expect the
\nFederal Reserve to signal its readiness to act in future at the
\nconclusion of its two-day meeting later today, while divisions
\namong European leaders could stall any action from the European
\nCentral Bank on Thursday.<\/p>\n

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

“The market is focusing on the Fed and more importantly the
\nECB. We have seen in the past couple of days that the market has
\nbecome more cautious after rallying very strongly last week”
\nsaid Murat Toprak, emerging markets strategist at HSBC.<\/p>\n

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

Benchmark emerging stocks rose 0.12 percent.
\nLeading the gains in the index were Chinese stocks,
\nwhich gained 0.9 percent during the session. The index recently
\nhit three-year lows.<\/p>\n

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

This comes after factory purchasing managers’ surveys showed
\nChinese manufacturing is only just expanding. Still, while the
\nofficial PMI index hit 8-month lows, the small dip from June to
\nJuly meant the sector avoided contraction.<\/p>\n

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

“The PMIs this morning were not really surprising as they
\nsignalled that we are not having a hard landing but definitely a
\ndeceleration (in growth). Markets can be happy that it’s not
\nworse,” said Toprak.<\/p>\n

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

In emerging Europe, Polish and Czech PMIs were better than
\nexpected, though they remained in contraction territory. The
\nzloty rose 0.2 percent versus the euro.<\/p>\n

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

On currencies, the Hungarian forint gained 0.5 percent
\n after having risen 1.5 percent in July when Budapest’s
\nnegotiations with the International Monetary Fund appeared to go
\nrelatively smoothly.<\/p>\n

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

“The forint has already rallied substantially on the news on
\nthe IMF front. The IMF has been more constructive than people
\nexpected, and the government showed it was ready to make some
\nadjustments,” said Toprak.<\/p>\n

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

The Russian rouble slipped 0.4 percent versus the
\ndollar as oil prices eased.<\/p>\n

(Reporting by Alistair Smout; Additional reporting by Sujata
\nRao; Editing by Hugh Lawson)<\/p>\n

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

\n

\t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

LONDON Aug 1 (Reuters) – Emerging equities traded near flat on Wednesday after four days of gains as caution crept in ahead of monetary policy meetings in the United States and Europe, while Chinese markets shrugged off weak factory data to rise 1 percent. Despite weak data most analysts still only expect the Federal Reserve […]<\/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-13054","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\/13054","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=13054"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13054\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}