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EMERGING MARKETS-Emerging FX suffer on tumbling oil; stocks gain
2017年6月2日 / 上午9点22分 / 6 个月前

EMERGING MARKETS-Emerging FX suffer on tumbling oil; stocks gain

LONDON, June 2 (Reuters) - Emerging stocks sailed higher on Friday though currencies came under pressure from tumbling oil and commodity prices and a steady dollar as investors awaited key U.S. jobs data to glean hints about the trajectory of Federal Reserve interest rates.

MSCI’s emerging markets benchmark rose 0.4 percent, lifted by strong gains in Asia where South Korea’s bourse ended the session 1.2 percent higher - a record closing level.

The Seoul bourse jumped after a revision to first quarter growth data showed the economy had expanded faster than expected and at its strongest clip in six quarters.

Adding to the cheer was the fact that Wall Street received a boost from strong U.S. data showing private employers had stepped up hiring and factory activity ticked up, suggesting the economy is regaining speed after struggling at the start of the year.

A strong U.S. non-farm payrolls number, due later in the day, could effectively seal the case for a Fed rate hike. Though concerns about the trajectory for U.S. interest rates weighed on emerging currencies.

“We had a pretty strong ADP (National Employment Report) number yesterday, so if the non-farm payroll is very strong that could change the pace of Fed hikes,” said Regis Chatellier, global sovereign credit strategist at Societe Generale.

“We could potentially have an extra rate hike this year - that’s why people are a bit cautious this morning.”

Oil tumbling below $50 per barrel and sliding copper prices added to the woes for Russia’s rouble , which weakened 0.7 percent against the dollar, and South Africa’s rand, which eased 0.4 percent. Both currencies were on track for weekly losses after three straight weeks of gains.

China’s yuan retreated from near seven-month highs, also helped by tight liquidity easing off. However, the currency was on track to strengthen 0.6 percent over the week - the biggest weekly jump since July last year.

Investors were also waiting to hear ratings agency S&P Global’s latest assessment of South Africa due later in the day after Fitch confirmed its rating on Thursday at one notch below investment grade with a stable outlook.

In April, Fitch downgraded South Africa to BB+ from BB- on both foreign and local currency debt after President Jacob Zuma sacked respected finance minister Pravin Gordhan.

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 1012.58 +4.11 +0.41 +17.43

Czech Rep 1009.94 +3.86 +0.38 +9.58

Poland 2296.19 +17.93 +0.79 +17.88

Hungary 35077.78 +315.32 +0.91 +9.61

Romania 8769.41 +80.91 +0.93 +23.77

Greece 784.44 +2.59 +0.33 +21.88

Russia 1038.09 -7.54 -0.72 -9.91

South Africa 46682.90 +195.40 +0.42 +6.33

Turkey 98155.70 +789.90 +0.81 +25.62

China 3105.98 +3.36 +0.11 +0.08

India 31266.34 +128.75 +0.41 +17.43

Currencies Latest Prev Local Local

close currency currency

% change % change

in 2017

Czech Rep 26.32 26.32 -0.00 +2.61

Poland 4.19 4.19 +0.10 +5.18

Hungary 308.05 307.49 -0.18 +0.25

Romania 4.56 4.57 +0.07 -0.63

Serbia 122.20 122.35 +0.12 +0.94

Russia 56.75 56.40 -0.60 +7.96

Kazakhstan 313.73 312.68 -0.33 +6.35

Ukraine 26.27 26.27 -0.02 +2.78

South Africa 12.94 12.88 -0.44 +6.14

Kenya 103.27 103.30 +0.03 -0.87

Israel 3.56 3.55 -0.19 +8.20

Turkey 3.54 3.52 -0.36 -0.27

China 6.82 6.80 -0.20 +1.85

India 64.49 64.44 -0.08 +5.36

Brazil 3.25 3.25 -0.00 +0.11

Mexico 18.68 18.63 -0.23 +10.91

Debt Index Strip Spd Chg %Rtn Index

Sov‘gn Debt EMBIG 321 1 .01 7 87.60 1

All data taken from Reuters at 09:00 GMT. Currency percent change calculated from the daily U.S. close at 2130 GMT.

Additional reporting by Claire Milhench; Editing by Andrew Bolton

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