Stocks stall, oil cools, Evergrande and lira mauled



* World stocks dip as risk aversion returns

* Turkish lira dives 2% after 200 basis point rate cut

* Yen jumps as Nikkei falls 1.9%

* Evergrande asset sale fails, default deadline looms

* Oil rally pauses, bond yields take a breather

* Graphic: Global asset performance Link

* Graphic: World FX rates Link

By Marc Jones

LONDON, Oct 21 (Reuters) - World stocks slipped on Thursday as the upbeat mood that carried the Dow Jones and bitcoin to records a day earlier fizzled out, while a pause in the oil rally stalled rising global bond yields.

Other major action saw Turkey's lira backflip to new lows after the country's central bank slashed interest rates again and default-threatened China Evergrande's shares plunged 11.5% after a $2.6 billion stake sale fell through.

Other risk and commodity-sensitive currencies such as the Australian and New Zealand dollars and South African rand also hit the skids, giving the safe-haven Japanese yen JPY= a rare lift after it had fallen to a four-year low versus the dollar.

"There is little bit of risk aversion," said Societe Generale's Kit Juckes, who pointed to the higher yen and the fact that both European stocks and Wall Street S&P 500 futures were both in the red.

On the lira's woes, veteran emerging market watcher Tim Ash at BlueBay said the message Turkey's central bank head had delivered with the rate cut was, "I listen to Erdogan and no one else. Screw you guys!"

Commodities also eased, with Brent crude futures LCOc1 down 1.2% after touching a three-year top and Chinese coal futures CACcv1 extending a sharp pullback after Beijing had signalled it would intervene to cool prices.

"The U.S. stock market has gone up for six days in a row, bitcoin's made a record and the U.S. bond market is calm. On the surface it looks benign," said Andrew Ticehurst, a rates strategist at Nomura in Sydney.

"But below the surface, we are uncomfortable about a number of things," he added, chiefly the slowdown in China's economy seen in data earlier this week and concerns about potential fallout from Evergrande's troubles.

Evergrande will default on $19 billion of international market bonds if it doesn't make an already overdue coupon payment by Monday. It would the biggest ever Chinese default and one of the world's largest too. Lehman Brothers' collapse added up to $35 billion.

Late on Wednesday, Evergrande confirmed it had abandoned plans to sell a $2.6 billion stake in its property services unit. Its shares ended down 11.5% in Hong Kong. Rival developer Kaisa, which was the first Chinese firm to default in 2015, was seeing its bonds hammered again too as worries mount about its fate.

It wasn't all bad news though. Financial news provider REDD reported that Evergrande had secured an extension on one of its lower-profile bonds.

Shares in some other Chinese developers also drew support after a number of top Chinese officials had given reassurances that the troubles would not be allowed to spin out of control.

TALKING TURKEY

Turkey's lira TRY= dropped 2% against the dollar and was by far the worst performer in FX markets as the central bank cut interest rates down to 16% from 18%.

The policy rate had been cut by a percentage point last month, with the lira already on a run of record lows, after another major ousting of policymakers underlined worries about the bank's independence from the government.

"We have seen strong outflows from debt in the last three weeks, probably due to uncertainty with the currency and increased risk perception," IIF economist Jonathan Fortun told Reuters.

Wall Street futures were down 0.3% after a blizzard of earnings had helped the Dow Jones .DJI touch an all-time high on Wednesday, with the S&P 500 .SPX finishing within touching distance of a record too.

The VIX volatility index .VIX , sometimes referred to as Wall Street's "fear gauge", also ticked up having dropped to a two-month low the previous day.

But a soft finish on the Nasdaq .IXIC had flowed through to tech-stock selling in Tokyo which fell 1.9% and in Hong Kong, where the Hang Seng .HSI fell 0.5%.

In the government bond markets that drive global borrowing costs, longer-dated U.S. Treasury yields were just starting to stir again steadied after rising with inflation and growth expectations on Wednesday.

After a groggy start, the benchmark 10-year U.S. yield US10YT=RR was nudged the previous day's five-month high of 1.6730% again, while Germany's 10-year yield, the benchmark for Europe, was fractionally higher at a still negative -0.10% DE10YT=RR .

"The strong focus on the volatile (bond) curve environment in the euro area looks set to stay, at least until next week's ECB Governing Council meeting," UniCredit analysts told clients.

Investors have figured that surging energy prices and tightening job markets will pressure top central banks such as the U.S. Fed and ECB to either raise interest rates or at least rein in the stimulus.

Fed funds futures 0#FF: have priced a 25 basis point U.S. rate hike in the third quarter of 2022 while eurodollar markets expect higher rates as soon as the second quarter 0#ED: .



World FX rates YTD Link
Global asset performance Link
Asian stock markets Link
China property stocks come crashing down Link
Emerging market currencies this week Link



Additional reporting by Tom Westbrook in Singapore; Editing by
Alex Richardson and Ramakrishnan M.



Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.

Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.

Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.

Gumagamit kami ng cookies para mabigyan ka ng mahusay na karanasan sa aming website. Magbasa pa o palitan ang iyong cookie settings.

Babala sa Risk: Ang iyong kapital ay maaaring malugi. Ang mga produktong naka-leverage ay maaaring hindi para sa lahat. Tingnan ang aming Risk Disclosure.