{"id":13692,"date":"2012-08-20T15:02:45","date_gmt":"2012-08-20T13:02:45","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/emerging-markets-flat-near-12-day-lows-yuan-forwards-up\/"},"modified":"2012-08-20T15:02:45","modified_gmt":"2012-08-20T13:02:45","slug":"emerging-markets-flat-near-12-day-lows-yuan-forwards-up","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/emerging-markets-flat-near-12-day-lows-yuan-forwards-up\/","title":{"rendered":"EMERGING MARKETS-Flat near 12-day lows; yuan forwards up"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON<\/span> Aug 20 (Reuters) &#8211; Emerging equities seesawed around<br \/>\nflat on Monday, trading near 12-day lows due to weakness in<br \/>\nChinese stocks though losses were capped by an uptick on west<br \/>\nEuropean markets where investors are positioning for action from<br \/>\nthe European Central Bank.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>MSCI&#8217;s emerging equity index, which lost almost 1 percent<br \/>\nlast week, stayed flat though its biggest component,<br \/>\nChina, closed down 0.4 percent after hitting March 2009 lows<br \/>\n.<\/p>\n<p><span><\/span><\/p>\n<p>Investors are mostly staying on the sidelines though<br \/>\nEuropean sentiment was bolstered by a German media report that<br \/>\nthe ECB is contemplating action which would effectively lower<br \/>\nthe yields on Spanish and Italian debt..<\/p>\n<p><span><\/span><\/p>\n<p>China&#8217;s central bank meanwhile has dashed investors&#8217;<br \/>\nexpectations of a speedy cut to banks&#8217; required reserve ratios.<br \/>\nThe resulting tight liquidity has pushed up interest rate swaps<br \/>\nto three-month highs.<\/p>\n<p><span><\/span><\/p>\n<p>Offshore one-year dollar-yuan non-deliverable forwards<br \/>\n traded at 6.4520, the highest since mid-December<br \/>\n2011, implying a yuan depreciation of more than 1 percent over<br \/>\nthe next 12 months.<\/p>\n<p><span><\/span><\/p>\n<p>Russian stocks fell 0.8 percent to two-week lows,<br \/>\ndespite a slight recovery in oil prices to above $114 a barrel<br \/>\nwhile Polish and Hungarian stocks  also lost<br \/>\n0.9-1 percent, tracking weakness on west European bourses.<\/p>\n<p><span><\/span><\/p>\n<p>South African stocks however rose 0.3 percent,<br \/>\nrecovering some of Friday&#8217;s losses. But they stayed off recent<br \/>\nrecord highs as locally-listed shares in platinum miner Lonmin<br \/>\n fell 4 percent on continued fears of labour violence.<\/p>\n<p><span><\/span><\/p>\n<p>Tensions with Iran kept Israeli risk insurance costs<br \/>\nelevated, with Markit data showing 5-year credit default swaps<br \/>\nat the highest since mid-June.<\/p>\n<p><span><\/span><\/p>\n<p>(Reporting by Sujata Rao; editing by Stephen Nisbet)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON Aug 20 (Reuters) &#8211; Emerging equities seesawed around flat on Monday, trading near 12-day lows due to weakness in Chinese stocks though losses were capped by an uptick on west European markets where investors are positioning for action from the European Central Bank. MSCI&#8217;s emerging equity index, which lost almost 1 percent last week, [&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-13692","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\/13692","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=13692"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13692\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}