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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 retreat from 6-1\/2 mth high * Rand, zloty near multi-month highs * Fitch comments on Hungary market access By Carolyn Cohn LONDON, March 1 (Reuters) – Emerging stocks retreated on Thursday from the previous session’s 6-1\/2 month on expectations that fund flows into emerging markets could slow after the Federal Reserve dampened […]<\/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-8476","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\/8476","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=8476"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8476\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}* Emerging stocks retreat from 6-1\/2 mth high\n * Rand, zloty near multi-month highs\n * Fitch comments on Hungary market access\n\n By Carolyn Cohn\t\n LONDON, March 1 (Reuters) - Emerging stocks retreated\non Thursday from the previous session's 6-1\/2 month on\nexpectations that fund flows into emerging markets could slow\nafter the Federal Reserve dampened hopes for further monetary\nstimulus.\t\n Comments by Federal Reserve chairman Ben Bernanke late on\nWednesday stopped short of promising further bond purchases to\nstimulate the U.S. economy, while European banks' take-up of 530\nbillion euros of cheap loans offered at the European Central\nBank's long-term refinancing operation (LTRO) on Wednesday was\nlargely discounted by markets.\t\n Previous rounds of quantitative easing by the Fed and the\nECB have driven money into higher-yielding emerging markets.\t\n \"Emerging markets have stabilised around their (current)\nlevels and there are only a few currencies that are going to\nappreciate further, because the LTRO has already passed and QE3\nis becoming more of a question mark now,\" said Thu Lan Nguyen,\nFX analyst at Commerzbank in Frankfurt.\t\n \"A lot of the positive aspects of the LTRO were already\npriced into the market beforehand so we don't think this\nmomentum is going to accelerate as much as last time.\"\t\n The MSCI emerging equities index fell 0.8 percent,\nretreating from the previous day's August 2011 highs, and the\nThomson Reuters emerging Europe index dipped 0.4\npercent. \t\n Emerging equities have rallied 17 percent this year,\nsupported by the ECB's offer of cheap loans and a second\nbail-out for indebted euro zone sovereign Greece.\t\n Purchasing managers' surveys released on Thursday presented\na mixed picture across emerging markets with manufacturing\nactivity rising in China, Hungary and the Czech Republic but\nstagnating in Poland. \t\n However, fourth-quarter GDP data from Poland beat forecasts\nand the zloty edged up towards the previous day's\nsix-month highs.\t\n \"The Polish zloty stands out because it has already\nsurprised positively from the growth perspective in the last\ncouple of weeks and the fiscal side as well has improved\nsignificantly,\" Nguyen said.\t\n Russian stocks and the rouble fell from\nrecent highs as oil stabilised below recent peaks and data\nshowed Russian manufacturing growth moderated in February.\t\n The Hungarian forint edged up within recent ranges\nbut investors continued to keep an eye on developments in\nHungary's stalled talks with international lenders.\t\n Ratings agency Fitch said on Wednesday that Hungary's\nability to obtain market financing on sustainable terms depended\non implementing fiscal consolidation programmes and restoring\npolicy credibility. \t\n Hungary's central bank said on Thursday that deteriorating\nfunding was weakening banks' capacity to lend. \t\n \"The danger is that with banks being forced to make hard\ndecisions about where they deploy capital, they don't need an\nexcuse to more aggressively deleverage in economies like Hungary\nwhere credit\/policy risk and the growth outlook is weak,\" said\nTim Ash, head of CEEMEA research at RBS, in a client note.\t\n Elsewhere, the rand rose half a percent towards the\nprevious day's five-month highs, as South Africa's PMI jumped to\na two-year high of 57.9 in February.\t\n Emerging sovereign debt spreads tightened by 2 basis\npoints to 332 bps over U.S. Treasuries.\t\n\t\n (Additional reporting by Philip Baillie; Editing by Susan\nFenton)<\/pre>\n