{"id":15207,"date":"2012-10-03T17:28:08","date_gmt":"2012-10-03T15:28:08","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/emerging-markets-stocks-dip-on-growth-worries-rand-falls\/"},"modified":"2012-10-03T17:28:08","modified_gmt":"2012-10-03T15:28:08","slug":"emerging-markets-stocks-dip-on-growth-worries-rand-falls","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/emerging-markets-stocks-dip-on-growth-worries-rand-falls\/","title":{"rendered":"EMERGING MARKETS-Stocks dip on growth worries, rand falls"},"content":{"rendered":"

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

LONDON<\/span> Oct 3 (Reuters) – Emerging stocks dipped on
\nWednesday and the commodity-focused rand hit four-week lows
\nafter weak Chinese and Australian data raised global growth
\nconcerns.<\/span><\/p>\n

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

China’s official services PMI slowed to 53.7 percent in
\nSeptember from 56.3 in August, highlighting the economy’s
\nseventh straight quarter of slowdown, while Australia posted
\nweak export data. Chinese markets were closed for holidays.<\/p>\n

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

Export-led emerging markets are heavily dependent on growth
\nin China.<\/p>\n

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

Benchmark emerging equities eased 0.1 percent.
\nRussian stocks lost as much as one percent as Brent
\ncrude futures slipped below $111 per barrel.<\/p>\n

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

The rand weakened to four-week lows amid broad falls
\nin commodity currencies and after Reserve Bank Governor Gill
\nMarcus said this week that current levels of foreign flows into
\nSouth Africa’s bond market were not sustainable.<\/p>\n

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

“All of a sudden a series of bad news is there,” said Gaelle
\nBlanchard, emerging FX strategist at SocGen.<\/p>\n

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

“We have the Moody’s downgrade which had a bit of a negative
\nimpact on the currency and we have all this unrest in the mining
\nsector.”<\/p>\n

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

Moody’s cut South Africa’s rating to Baa1 from A3 last week,
\nwhile wildcat mining strikes spread to the iron ore sector on
\nWednesday.<\/p>\n

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

Poland’s zloty steadied against the euro ahead of
\na rate decision which analysts polled by Reuters expect will
\nbring interest rates down 25 basis points to 4.5 percent.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

LONDON Oct 3 (Reuters) – Emerging stocks dipped on Wednesday and the commodity-focused rand hit four-week lows after weak Chinese and Australian data raised global growth concerns. China’s official services PMI slowed to 53.7 percent in September from 56.3 in August, highlighting the economy’s seventh straight quarter of slowdown, while Australia posted weak export data. […]<\/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-15207","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\/15207","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=15207"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15207\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}