China rate cut boosts EM stocks; currencies recover as greenback eases



* China stocks firm on higher-than-expected borrowing rate cut

* Turkish consumer conf in May edges up from record low

* EM stocks, FX eye weekly gains of 3% and 1% respectively

By Anisha Sircar and Bansari Mayur Kamdar

May 20 (Reuters) - China stocks led emerging market stocks higher on Friday after Beijing's larger-than-expected cut to a key borrowing rate, while a softer dollar sent an index of currencies to their highest level in two weeks.

China's main share indexes .CSI300 .SSEC added 1.6% and 2% after Beijing lowered the five-year loan prime rate CNYLPR5Y=CFXS by 15 basis points (bps) to 4.45% to aid the ailing economy, more than the five or 10 bps tipped by analysts in a Reuters poll.

That boosted MSCI's index of stocks .MSCIEF up 2% and more than 3% on the week to track its best weekly performance since mid-March. Most other EM Asian indexes gained between 1% and 2.2% while those in Turkey .XU100 and South Africa .JTOPI gained 0.4% and 0.5%.

Still, stocks have clocked losses every month in 2022 and were eyeing their fifth in May as investors remain fearful over the impact of surging inflation, China's COVID-19 lockdowns and monetary tightening in developed economies.

"I'm not looking at a strong recovery from here - some stability in (China's) renminbi has provided some temporary support this week, but the fact is we've got the strong dollar and concerns over European and Chinese growth very much still with us," said Chris Turner, global head of FX Strategy at ING.

Meanwhile, EM currencies .MIEM00000CUS looked set for their first weekly gain in seven, lifted by a glum week for the dollar =USD which lost steam after a breathless 14-week surge and amid a retreat in U.S. Treasury yields.

Mexico's peso MXN= and South Africa's rand ZAR= were 0.9% and 2% stronger on the week, with the rand helped by a 50 basis point lending rate hike by the central bank on Thursday.

Turkey's lira TRY= was the outlier, slipping 0.3% and down 11 sessions out of the last 12, with some upbeat data doing little to boost the struggling currency. Turkish consumer confidence was seen rising to 67.6 points in May from a record low in April.

"The strategy in place...is costing an arm to Turkey, which is why soft data like the consumer data isn't fit to reverse the ugly mood or fears of seeing the lira crumble if the Turkish central bank were to let go," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

Elsewhere, Russia's rouble RUBUTSTN=MCX saw its fifth straight week in the black, boosted by capital controls and domestic tax payments that support demand for the currency, despite growing global sanctions after its invasion of Ukraine.

For GRAPHIC on emerging market FX performance in 2022, see Link For GRAPHIC on MSCI emerging index performance in 2022, see Link

For TOP NEWS across emerging markets

For CENTRAL EUROPE market report, see

For TURKISH market report, see

For RUSSIAN market report, see
Reporting by Anisha Sircar in Bengaluru; Editing by Kim Coghill

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。

所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。

本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。

風險提示:您的資金存在風險。槓桿商品並不適合所有客戶。請詳細閱讀我們的風險聲明