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\t\t<\/span><\/p>\n <\/span><\/p>\n \n \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":" * Emerging stocks hit six-day lows, euro zone weighs * Hungarian CDS rise towards record highs, IMF in focus * Russian CDS at one-week high after outlook cut By Carolyn Cohn LONDON, Jan 16 (Reuters) – Emerging stocks hit their lowest in nearly a week on Monday as the euro zone debt crisis came back […]<\/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-7092","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\/7092","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=7092"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7092\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}* Emerging stocks hit six-day lows, euro zone weighs\n * Hungarian CDS rise towards record highs, IMF in focus\n * Russian CDS at one-week high after outlook cut\n\n By Carolyn Cohn\t\n LONDON, Jan 16 (Reuters) - Emerging stocks hit their\nlowest in nearly a week on Monday as the euro zone debt crisis\ncame back into focus, and Hungary's debt insurance costs rose to\nwithin sight of record highs on international funding worries.\t\n Russian assets were cushioned by strong oil prices,\noffsetting news that Fitch had cut Russia's rating outlook to\nstable from positive. \t\n Emerging stocks have had a relatively upbeat start to 2012,\nrising more than 3 percent this month, after a weak performance\nlast year. \t\n But last year's themes of debt woes and slowing growth in\nthe developed world continue to undercut riskier markets, after\nStandard Poor's downgraded nine euro zone economies on Friday.\t\n \"While the market had already priced the SP move, we're\nstarting to see increasing impact on emerging markets,\" said\nRashique Rahman, head of emerging markets' macro strategy at\nMorgan Stanley. \t\n \"We're seeing financial and funding market stresses\nadversely impact global and emerging economy growth, as external\ndemand declines in the developed world.\"\t\n The MSCI emerging equities index hit six-day lows\nbefore trimming losses to trade at 948, down 0.54 percent.\t\n The Thomson Reuters emerging Europe index \ngained 0.3 percent and emerging sovereign debt spreads \ntightened by 1 basis point to 392 bps over U.S. Treasuries.\t\n Emerging European currencies were steady to slightly firmer.\t\n Activity was subdued, with U.S. markets closed for a holiday\non Monday.\t\n Hungarian debt insurance costs rose to their\nhighest in 11 days on concern about Hungary's access to\ninternational funding, with five-year credit default swaps (CDS)\nhitting 697 according to Markit, within sight of record highs of\n725 bps hit in early January.\t\n Prime Minister Viktor Orban said on Friday his government\nand its lenders were still far apart, hours after the\nInternational Monetary Fund said Hungarian policies must change\nbefore it could discuss a funding deal. \t\n Kazakh CDS dipped to 287 bps after three parties gained\nentry to Kazakhstan's parliament, election results showed on\nMonday, a small concession to democracy by President Nursultan\nNazarbayev.\t\n Kazakh bank BTA, which is controlled by the\ncountry's sovereign wealth fund, is expected to default on debt\npayments, following the expiry later this week of a 10-day grace\nperiod for payment of $160 million in missed coupons. The\ncountry's 2018 Eurobond is trading at around 20 cents on the\ndollar.\t\n Russia's CDS rose 4 bps to their highest in a week at 261\nbps after Fitch downgraded the outlook on Russia's BBB rating,\nciting intensified political risks during the country's election\ncycle, weak growth and rising dependency on high oil prices. But\nRussian assets showed little reaction.\t\n \"You could hardly expect an upgrade in the rating outlook in\nthe current environment. All agencies have been noting a lack of\nstructural reforms, and now there are political risks too,\" said\nVladimir Osakovsky, chief economist at Bank of America Merrill\nLynch in Moscow.\t\n South African debt insurance costs steadied after rising on\nFriday when Fitch cut the country's rating outlook to negative.\nSouth African stocks remained close to nine-month highs\n. \t\n The Turkish lira rose half a percent, with analysts\nascribing the move to central bank support. \t\n\t\n (Additional reporting by Alessandra Prentice and Sebastian Tong\nin London and Andrey Ostroukh and Maya Dyakina in Moscow;\nEditing by Susan Fenton)<\/pre>\n