Stocks slide on rising bets of aggressive U.S. rate hikes

By Susan Mathew

Dec 6 (Reuters) -

Emerging market stocks fell on Tuesday as the chances of more interest-rate hikes by the U.S. central bank gained ground following a strong services sector data.

Mainland China stocks .SSEC .CSI300 were among the rare outperformers as sources said the country's government is set to announce a further easing of some of the world's toughest COVID-19 curbs as early as Wednesday.

Most other bourses across the emerging markets fell, with emerging Europe taking cues from a weak open in Western Europe.

MSCI's index of emerging market shares .MSCIEF slipped 1.4%, losing more than what it gained on Monday.

"Unexpectedly strong U.S. data revived expectations of the Fed raising rates more than expected," said Lukman Otunuga, senior research analyst at FXTM.

Economic data on Monday showed U.S. services industry activity unexpectedly picked up in November and employment rebounded in a sign of underlying momentum in the economy.

Among currencies, Asian units slumped as the dollar strengthened following the data.

Other EM currencies fared better with South Africa's rand ZAR= extending gains to a third straight session, up 0.5%, bolstered also by data that showed South Africa's economy grew 1.6% in the third quarter compared to a contraction of 0.7% in the second.

South Africa's ruling party, the African National Congress, said it would tell its lawmakers to reject a report that President Cyril Ramaphosa may have committed misconduct over a stash of cash in his farm, giving him a lifeline as he faced the biggest scandal of his career.

Russia's rouble RUBUTSTN=MCX extended declines to hit eight-week lows and was last trading at around 62.8 per dollar after the imposition of a price cap on Russian oil.

The price cap is likely to lead to a small loss in the volume of Russian exports, Renaissance Capital analysts said.

"We maintain our forecast for a gradual weakening of the rouble to 65 per dollar in the coming months with a move into the 70-75 range in 2023 against the backdrop of lower export revenues and a recovery in imports," RenCap said.

Ahead of embargos and price caps that took effect this month, Russia's January-November oil and gas condensate rose 2.2% from a year earlier to 488 million tonnes, the Interfax news agency reported. 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

EM currencies Link
African currencies Link

Reporting by Susan Mathew in Bengaluru; additional reporting
by Alexander Marrow; Editing by Arun Koyyur

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。