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\t\t<\/span><\/p>\n <\/span><\/p>\n \n \t\t\u00a9 Thomson Reuters 2011 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":" * Emerging stocks edge up, debt spreads tighten * Zloty higher after Moody’s affirms Poland rating * Forint edges up ahead of rates decision * Romanian leu hits 3-mth high, IMF positive * Defaulted North Korean debt prices creep higher By Carolyn Cohn LONDON, Dec 20 (Reuters) – Emerging stocks and debt edged higher on […]<\/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-6304","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\/6304","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=6304"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6304\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}* Emerging stocks edge up, debt spreads tighten\n * Zloty higher after Moody's affirms Poland rating\n * Forint edges up ahead of rates decision\n * Romanian leu hits 3-mth high, IMF positive\n * Defaulted North Korean debt prices creep higher\n\n By Carolyn Cohn\t\n LONDON, Dec 20 (Reuters) - Emerging stocks and debt\nedged higher on Tuesday helped by an upbeat outlook for the\nGerman economy from a key survey, and the zloty hit a 12-day\nhigh against the euro after Moody's affirmed Poland's ratings.\t\n The Munich-based Ifo think tank said its business climate\nindex rose to 107.2 in December from 106.6 in November. \t\n This helped to sweeten uncertain emerging markets, which are\nbecoming increasingly linked to the euro zone's problems. \t\n Euro zone ministers agreed on Monday to boost the IMF's\nresources by 150 billion euros to help tackle the region's\ntwo-year old debt crisis, but it was unclear if the bloc would\nreach its overall 200 billion euro target after Britain bowed\nout. \t\n \"German data has provided short-term relief but structural\nissues remain. This is a crisis that is euro-centric and not\nbased on the strength of leading indicators but on the\ncreditworthiness of euro zone economies,\" said Cristian Maggio,\nemerging markets strategist at TD Securities. \t\n \"Given that the rating actions on these countries over the\nnext few months will all be negative, I don't see how the\nsituation can be supportive for risk in the medium term.\" \t\n The MSCI emerging equities index ticked up 0.3\npercent after hitting 2-1\/2 week lows on Monday. The index is on\ncourse for a 23 percent loss in 2011, due to wariness over risky\nassets, compared to a fall of 13 percent in world stocks.\n \t\n The Thomson Reuters emerging Europe index \ngained 0.5 percent and emerging sovereign debt spreads \ntightened by 5 basis points to 385 bps over U.S. Treasuries.\nSpreads were around 250 bps over Treasuries at the start of\n2011.\t\n The zloty rose 0.5 percent to a 12-day high against the\nsingle currency after rating agency Moody's confirmed Poland's\nA2, citing the country's \"strong and proven track record\".\t\n \"Surely such a decision will help the zloty ahead of the \t\nyear-end, and this news should particularly be noticed by \t\nforeign investors,\" said Piotr Poplawski, analyst at Rabobank's \t\nBGZ. \t\n The Hungarian forint inched up against the euro \nahead of a rate decision expected to result in a half-point rise\nto 7 percent, following a 50 bps rise last month.\t\n The forint is trading 5 percent above record lows hit last\nmonth, but investors are feeling more nervous about Hungary\nafter the IMF and the EU cut short talks with Budapest last week\ndue to concern over a new central bank bill.\t\n \"The forint is now rallying on the likely interest rate\nhike,\" said Maggio. \"Next year could see the forint weaker,\nespecially if the IMF deal doesn't transpire.\" \t\n The Romanian leu rose sharply to a three-month\nhigh after the IMF said late on Monday Romania was making good\nprogress under an economic programme, and freed up a further\n$661 million in aid that can be drawn on if needed.\t\n Romania sold a larger than planned amount of one-year\nT-bills on Monday at lower yields than in the previous tender.\n \t\n Turkish stocks hit their lowest in nearly four\nweeks and the lira hovered near 2-1\/2 month lows.\t\n A report published by Morgan Stanley on Dec 16, saying a\nsharp slowdown is on the horizon for the Turkish economy has\ndented the country's assets.\t\n The rouble traded near 2-1\/2 month lows\nagainst the dollar and a euro-dollar basket, on risks from the\neuro zone and North Korea. \t\n Prices of defaulted North Korean debt are creeping higher,\nto 14\/18 cents on the dollar according to frontier markets\nbroker Exotix, as some adventurous investors take a long-shot\nbet that the secretive country could open up after the death of\nKim Jong-il. \t\n \"In such a closed country, with decision-making concentrated\nin a small ruling elite, few outsiders can confidently predict\nhow the country will respond,\" said Stuart Culverhouse, chief\neconomist at Exotix, in a note. \t\n \"The regime is known (for) behaving erratically.\"\t\n Kazakh state-owned debt continued to suffer, as hundreds of\noil workers held a third day of protests in the capital of\nKazakhstan's western oil-producing region on Monday.\n \t\n The yield on Kazmunaigaz' 2015 dollar bond hit its highest\nin over two months. \t\n \"There will be heightened fear now among the ruling elite of\nan Arab Spring... this might lead to more control of public\nopinion, a further centralisation, a higher role of the special\nservices etc, which is negative from an investor's point of\nview,\" said Unicredit analysts in a client note. \t\n\t\n (Additional reporting by Sebastian Tong; Editing by John\nStonestreet)<\/pre>\n