Property sector weighs on China stocks; lira rallies

* Most other bourses outside China rise

* MSCI EM stocks index up 0.2%

* Turkish lira up 1.5% as diplomatic tension eases

* South African rand underperforms

By Susan Mathew

Oct 26 (Reuters) - Property and technology stocks led losses in China on Tuesday but gains in most other bourses sent an index of emerging market (EM) shares closer to one-month highs, while Turkey's lira firmed 1.5% after sliding to record lows.

China real estate indexes .CSI000952 .HSMPI fell 2.8% and 4.5% after property developer Modern Land 1107.HK defaulted on a payment, and as the sector digested Beijing's decision to roll out a pilot real estate tax in some regions.

"The Modern Land missed debt payment has seen property sector nerves return to China markets," said Jeffrey Halley, senior market analyst, Asia Pacific at OANDA.

"Evergrande, the centre of the China property storm, has another grace period payment due this week on 29 October, and nerves will be taut until it does, or does not, make payment."

Mainland China shares .SSEC .CSI300 lost around 0.3%, while Hong Kong's main index .HSI slipped 0.4% as losses in big technology names such as Tencent 0700.HK , Alibaba 9988.HK and Meituan 3690.HK also weighed.

Most other EM Asian indexes gained between 0.2% and 0.9% and those in Turkey .XU100 and South Africa .JTOPI gained 1% and 0.4%, on some friendly tones between the United States and China about bilateral relations, as well as upbeat earnings on Wall Street. MSCI's index of EM shares .MSCIEf was up 0.2%.

But keeping sentiment in check were rising COVID-19 cases and familiar fears of containment measures denting economic growth.

Beijing stepped up curbs, Moscow is set to introduce its tightest lockdown measures since June 2020, while tougher restrictions came into force in some eastern European countries as cases surge.

Turkey's lira TRY= rallied after stumbling to an all-time low of around 9.8 to the dollar on Monday, as President Tayyip Erdogan backed away from escalating diplomatic tensions with the West.

The lira is down more than 20% this year, thanks to worries about monetary policy, geopolitics and depleting foreign exchange reserves.

South Africa's rand ZAR= lost 0.1% to trade 14.72 per dollar. State power utility Eskom said it was extending scheduled power cuts until Saturday. Eskom's regular outages due to capacity issues have held back economic growth in Africa's most industrialised nation.

"After last week's late rally the USD/ZAR has found resistance at the 14.85/dollar mark. This level is pretty much the centre of a short term range for the (pair)," said Shaun Murison, senior market analyst at online trading provider IG.

South Africa's central bank composite leading business cycle indicator rose 0.7% month on month in August thanks to more vehicle sales and job adverts, data showed on Tuesday.

For GRAPHIC on emerging market FX performance in 2021, see Link For GRAPHIC on MSCI emerging index performance in 2021, see Link

For TOP NEWS across emerging markets

For CENTRAL EUROPE market report, see

For TURKISH market report, see

For RUSSIAN market report, see

Under pressure: Turkey FX reserves Link

Reporting by Susan Mathew in Bengaluru;
Editing by Robert Birsel

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。


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。杠杆商品可能不適合所有客戶。 請詳細閱讀我們的風險聲明