{"id":6272,"date":"2011-12-20T00:33:22","date_gmt":"2011-12-19T22:33:22","guid":{"rendered":"http:\/\/www.myza.co.za\/12\/emerging-markets-down-1-4-pct-on-asia-kazakh-unrest-pushes-up-cds\/"},"modified":"2011-12-20T00:33:22","modified_gmt":"2011-12-19T22:33:22","slug":"emerging-markets-down-1-4-pct-on-asia-kazakh-unrest-pushes-up-cds","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/emerging-markets-down-1-4-pct-on-asia-kazakh-unrest-pushes-up-cds\/","title":{"rendered":"EMERGING MARKETS-Down 1.4 pct on Asia; Kazakh unrest pushes up CDS"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* North Korea risk spillover hits Asian markets, emerging<br \/>\nstock index<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Kazakhstan CDS rise, state oil firm bonds fall after<br \/>\nunrest<\/p>\n<p><span><\/span><\/p>\n<p>* Forint under pressure on IMF; 50 bps rate hike expected on<br \/>\nTuesday<\/p>\n<p><span><\/span><\/p>\n<p>LONDON, Dec 19 (Reuters) &#8211; Emerging stocks fell 1.4<br \/>\npercent on Monday to three-week lows, pulled lower by big Asian<br \/>\nmarket losses after the death of North Korea&#8217;s leader, while<br \/>\npolitical unrest was also in focus in Kazakhstan, triggering a<br \/>\nrise in debt insurance costs.<\/p>\n<p><span><\/span><\/p>\n<p>The MSCI emerging markets index was down 1.4 percent by 1115<br \/>\nGMT, hit by losses in South Korea and Taiwan which together make<br \/>\nup almost a quarter of the index. The death of North Korea&#8217;s Kim<br \/>\nJong-il sent Seoul down 3.5 percent to a three-week closing low<br \/>\n while Taipei shed 2.2 percent. Shanghai, a fifth<br \/>\nof the MSCI emerging index, ended 0.3 percent lower.<\/p>\n<p><span><\/span><\/p>\n<p>Regional debt insurance costs also rose, with South Korea&#8217;s<br \/>\nfive-year credit default swaps hitting two month highs at one<br \/>\nstage before easing back.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;I think we have seen most of the reaction already, for<br \/>\ninstance the Korean won has retraced most of its losses,&#8221; said<br \/>\nThu Lan Nguyen, emerging markets strategist at Commerzbank. &#8220;The<br \/>\nmain driver for sentiment is still the euro zone crisis.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Markets recovered slightly in Europe after ECB board member<br \/>\nChristian Noyer said the bank would step to the support of banks<br \/>\nfacing liquidity issues. But a two-notch Moody&#8217;s<br \/>\ndowngrade for Belgium reinforced fears that ratings cuts are<br \/>\nalso due for other euro zone sovereigns.<\/p>\n<p><span><\/span><\/p>\n<p>Political risk was also in focus in Kazakhstan where 5-year<br \/>\ncredit default swaps surged 8 basis points to a 2-1\/2 month high<br \/>\nafter protests spread in a troubled oil region. The unrest is<br \/>\nthe worst to hit the country in 20 years and has already<br \/>\nresulted in the deaths of 15 people.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* North Korea risk spillover hits Asian markets, emerging stock index * Kazakhstan CDS rise, state oil firm bonds fall after unrest * Forint under pressure on IMF; 50 bps rate hike expected on Tuesday LONDON, Dec 19 (Reuters) &#8211; Emerging stocks fell 1.4 percent on Monday to three-week lows, pulled lower by big Asian [&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-6272","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\/6272","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=6272"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6272\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}