Slowdown worries, China's COVID measures hammer stocks



* Stocks set for worst week in a month

* FX to mark fifth week in red

* Chinese yuan at 1-1/2-year low, COVID curbs to be tightened

* CEE currencies rise as euro remains weak

By Susan Mathew

May 6 (Reuters) - Shares in emerging markets tumbled 2.5% on Friday, marking losses every day this week, as investors fretted over the implications of tighter global monetary policy and China's strict COVID-19 measures on growth momentum.

In a week packed with central bank meetings, MSCI's index of developing markets stocks .MSCIEF was set to decline 4% in its worst weekly performance in a month, as policymakers in several emerging markets as well as in the United States, England and Australia hiked interest rates to tame stubbornly high inflation.

Risk assets saw some relief after the Federal Reserve's meeting as markets scaled back bets of even more aggressive policy. But that appeared to be brief as investors digested the possible constriction on growth.

With China pledging to double down its zero-COVID policy, worries about demand saw commodities lose shine as well.

"It does not matter so much whether the Fed hikes its key rate in 50bp steps or 75bp steps," said Ulrich Leuchtmann, head of FX and commodity research at Commerzbank. "What matters is how far the rate cycle runs."

Weak stock market performances were across the board with heavyweight Chinese shares .SSEC .CSI300 .HSI falling between 2.2% and 3.9%.

Currencies of the developing also declined, with MSCI's index .MIEM00000CUS hitting November 2020 lows and set to mark its fifth straight week in the red.

The Chinese yuan CNY= weakened 0.4% to 1-1/2-year lows, while South Africa's rand ZAR= fell 0.8% after marking its worst session in over a year on Thursday when it sank 3.4%.

As the euro remained weak, central and eastern European currencies gained against it, with the Polish zloty EURPLN= and Czech crown EURCZK= rising a day after the respective central banks raised the key borrowing rate.

Chile was the latest, hiking its rate by 125 basis points overnight, while India, Brazil and gulf central banks also raised rates this week.

Investors are now looking ahead to April non-farm payrolls in the United States. Economists predict a solid 391,000 U.S. jobs were added last month, according to a Reuters poll.

The Russian rouble EURRUBTN=MCX strengthened to a more than two-year high against the euro and headed back towards 66 versus the dollar RUBUTSTN=MCX , supported by capital controls and weak forex demand, as the spectre of more sanctions against Moscow hung over markets. It fell in the offshore market RUB= , last at 63.3 against the dollar.

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 Susan Mathew in Bengaluru; Editing by Sherry Jacob-Phillips

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