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EMERGING MARKETS-Emerging stocks make modest gains after factory data
2017年7月3日 / 早上8点58分 / 25 天内

EMERGING MARKETS-Emerging stocks make modest gains after factory data

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LONDON, July 3 (Reuters) - Robust manufacturing data from China and South Korea boosted emerging equities on Monday, while currencies were kept under pressure by a firmer dollar and higher U.S. yields that also capped share market gains.

China's manufacturing sector expanded at the fastest pace in three months while South Korea's grew for the first time in 11 months.

In emerging Europe, Turkish manufacturing activity expanded at its quickest in more than three-and-a-half years , whilst Poland and Russia also continued to accelerate.

Oil prices also rose, inching up to a two-week high.

"Data flow from the PMIs have been quite solid," Manik Narain, emerging FX strategist at UBS, said, referring to Purchasing Managers Indexes. "Between the commodities and the tech cycle, emerging market equities have held up quite well."

MSCI's benchmark emerging stocks index rose 0.2 percent, with Polish and Turkish stocks up 0.3 percent, while Russian stocks <.MCX rose 0.8 percent, helped by higher oil prices.

Chinese mainland shares delivered a mixed performance but Hong Kong was supported by financials, the biggest beneficiary of a new Bond Connect scheme that links China's $9 trillion bond market with overseas investors.

Indian stocks rose almost 1 percent after tobacco manufacturer ITC jumped nearly 10 percent to a record high.

Taxation for cigarettes under a new goods and services levy is around 5-6 percent lower than under the previous structure.

With the dollar firming 0.3 percent against a basket of currencies and U.S. 10-year yields at six-week highs, emerging currencies struggled to make headway, with the South Korean won weakening 0.2 percent and the Indian rupee down 0.3 percent.

South Africa's rand slipped 0.4 percent, extending losses to a third straight session. A no-confidence vote in President Jacob Zuma has been delayed to Aug 8.

Finance Minister Malusi Gigaba said he would present an action plan on Friday to boost economic growth, drawing on issues raised by investors and ratings agencies.

The lira fell 0.2 percent after Turkish consumer inflation dipped in June.

"The sharper-than-expected fall in Turkish inflation last month to 10.9 percent year-on-year raises the risk that the central bank will begin to reverse its recent tightening cycle sooner than we had previously anticipated," analysts at Capital Economics said in a note.

The Czech crown firmed to its strongest against the euro since the central bank abandoned its weak crown policy in early April. Czech employment growth accelerated to its strongest since March.

Qatari assets steadied after Saudi Arabia and its allies gave Doha two more days to comply with a list of demands in an ongoing diplomatic crisis.

Qatari stocks rose 0.3 percent after dipping to the lowest since January 2016 on Sunday. Its five-year credit default swaps were quoted at 121 basis points (bps) by IHS Markit, after touching 123 bps on Friday, a 16-month high. For GRAPHIC on emerging market FX performance 2017, see tmsnrt.rs/2e7eoml For GRAPHIC on MSCI emerging index performance 2017, see tmsnrt.rs/2dZbdP5

For CENTRAL EUROPE market report, see

For TURKISH market report, see

For RUSSIAN market report, see)

Emerging Markets Prices from Reuters Equities Latest Net Chg % Chg % Chg

on year

Morgan Stanley Emrg Mkt Indx 1012.11 +1.31 +0.13 +17.38

Czech Rep 979.20 -1.21 -0.12 +6.25

Poland 2308.21 +8.41 +0.37 +18.50

Hungary 34988.06 -217.36 -0.62 +9.33

Romania 7900.33 +44.97 +0.57 +11.51

Greece 827.56 +3.82 +0.46 +28.57

Russia 1008.97 +8.01 +0.80 -12.44

South Africa 45396.42 -25.34 -0.06 +3.40

Turkey 00704.89 +264.50 +0.26 +28.88

China 3194.79 +2.36 +0.07 +2.94

India 31170.00 +248.39 +0.80 +17.06

Currencies Latest Prev Local Local

close currency currency

% change % change

in 2017

Czech Rep 26.11 26.11 +0.00 +3.44

Poland 4.23 4.23 -0.01 +4.09

Hungary 308.68 308.70 +0.01 +0.05

Romania 4.55 4.56 +0.14 -0.35

Serbia 120.32 120.25 -0.06 +2.52

Russia 59.14 58.92 -0.37 +3.59

Kazakhstan 320.97 322.00 +0.32 +3.95

Ukraine 26.00 26.07 +0.27 +3.85

South Africa 13.10 13.05 -0.37 +4.85

Kenya 103.73 103.60 -0.13 -1.31

Israel 3.49 3.48 -0.20 +10.33

Turkey 3.53 3.52 -0.22 -0.04

China 6.79 6.78 -0.14 +2.27

India 64.80 64.62 -0.29 +4.85

Brazil 3.31 3.31 +0.01 -1.60

Mexico 18.15 18.12 -0.15 +14.13

Debt Index Strip Spd Chg %Rtn Index

Sov'gn Debt EMBIG 327 -1 .01 7 84.98 1

Additional reporting by Sujata Rao; editing by John Stonestreet

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