{"id":15496,"date":"2012-10-11T17:46:11","date_gmt":"2012-10-11T15:46:11","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/emerging-markets-turkish-s-africa-stocks-rise-czech-crown-falls\/"},"modified":"2012-10-11T17:46:11","modified_gmt":"2012-10-11T15:46:11","slug":"emerging-markets-turkish-s-africa-stocks-rise-czech-crown-falls","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/emerging-markets-turkish-s-africa-stocks-rise-czech-crown-falls\/","title":{"rendered":"EMERGING MARKETS-Turkish, S.Africa stocks rise; Czech crown falls"},"content":{"rendered":"

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

LONDON<\/span> Oct 11 (Reuters) – Turkish stocks hit 17-month highs
\non Thursday, shrugging off an escalating conflict with Syria as
\ndata showed an improving current account picture while the Czech
\ncrown lost 0.3 percent after comments by the central bank
\ngovernor.<\/span><\/p>\n

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

South African assets gained as more truckers returned to
\nwork after weeks of strikes.<\/p>\n

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

Turkish stocks jumped, the lira gained 0.3
\npercent and bond yields slipped 20 basis points after
\ndata showed the current account deficit narrowing significantly,
\nstoking expectations of a rating upgrade..<\/p>\n

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

“The ratings agencies have argued that an upgrade depends on
\nevidence of an improving (current account deficit) position –
\nwell now it’s improving,” said Timothy Ash, head of emerging
\nmarkets research at Standard Bank.<\/p>\n

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

The Czech crown fell 0.25 percent after central
\nbank governor Miroslav Singer was quoted as saying the bank is
\nready to intervene to weaken the currency if it feels there is a
\nrisk of long-term deflation pressure.<\/p>\n

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

The comments come a day after dovish remarks from Poland’s
\nprime minister and central bankers hit the zloty.<\/p>\n

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

“We are seeing more and more verbal intervention. What’s
\ninteresting is that you have more emerging currencies getting
\npolluted by these kinds of comments,” said Guillaume Salomon,
\nemerging market strategist at Societe Generale, citing the
\nzloty, rand and the crown as examples.<\/p>\n

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

South African stocks rose a quarter of a percent
\nand the rand jumped 1.15 percent to the dollar, lifting
\nit to a three-day high as hopes grew that the strikes could soon
\nend.<\/p>\n

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

The rand hit a 3-1\/2 year low hit earlier this week on fears
\nthe labour unrest would seriously derail growth and investment.<\/p>\n

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

Broader emerging markets were flat weighed down by
\na 0.8 percent loss in China and continued worries over
\nSpain which was downgraded by SP to BBB-, a notch above junk.<\/p>\n

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

(Reporting by Shadia Nasralla; editing by Patrick Graham)<\/p>\n

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

\n

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

LONDON Oct 11 (Reuters) – Turkish stocks hit 17-month highs on Thursday, shrugging off an escalating conflict with Syria as data showed an improving current account picture while the Czech crown lost 0.3 percent after comments by the central bank governor. South African assets gained as more truckers returned to work after weeks of strikes. […]<\/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-15496","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\/15496","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=15496"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15496\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}