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EMERGING MARKETS-Stocks fall for fourth day on N.Korea, Fed nerves
2017年9月26日 / 上午9点20分 / 24 天前

EMERGING MARKETS-Stocks fall for fourth day on N.Korea, Fed nerves

LONDON, Sept 26 (Reuters) - Emerging market stocks fell for a fourth straight day on Tuesday, weighed down by the ongoing war of words between North Korea and the United States as well as the prospect of higher U.S. interest rates.

North Korea’s foreign minister said on Monday that a weekend tweet by U.S. leader Donald Trump counted as a declaration of war and that Pyongyang reserved the right to shoot down U.S. bombers. That has boosted the appeal of safe-haven assets .

The dollar was broadly stronger on Tuesday amid expectations the Federal Reserve is preparing to tighten monetary policy.

“We have two driving factors here - first the situation around North Korea is limiting risk appetite globally, and the second issue is that a bit of dollar strength caused by the likelihood of a Fed rate hike in December is causing nervousness in the EM world,” said Jakob Christensen, chief emerging markets analyst at Danske Bank.

“But we see these risks fading as military intervention is a low probability event, and we also see dollar strength as a temporary phenomenon,” he said.

MSCI’s emerging equity benchmark fell 0.6 percent to its weakest in around three weeks, also dragged lower by a second day of sharp losses in the EM tech index.

EM tech stocks are up more than 47 percent this year versus a 25 percent gain for the benchmark index, but they have been pressured by a recent sell-off in U.S. rival Apple.

Bourses in Asia were broadly weaker on Tuesday and South African stocks fell 1.4 percent after Monday’s closure for a public holiday, but emerging Europe including Hungary and Russia saw modest gains.

Asian currencies weakened, led by South Korea’s won and China’s yuan, though the Turkish lira, South African rand and Russian rouble nudged higher.

Among policy decisions scheduled for Tuesday, Nigeria’s central bank is expected to leave its main interest rate on hold at 14 percent.

Nigerian naira bonds have been in demand among foreign investors in recent weeks, with recent auctions well bid on signs inflation is easing. Yields have fallen around 300 basis points since May on the three-month t-bills.

Analysts polled by Reuters expect the Nigerian central bank will wait for either January or March before kicking off its own easing cycle.

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 1082.70 -5.56 -0.51 +25.56

Czech Rep 1042.13 +0.64 +0.06 +13.08

Poland 2454.95 +1.80 +0.07 +26.03

Hungary 38152.57 +44.70 +0.12 +19.22

Romania 7914.68 +26.04 +0.33 +11.71

Greece 727.52 -14.97 -2.02 +13.03

Russia 1140.79 +10.25 +0.91 -1.00

South Africa 48705.57 -859.11 -1.73 +10.94

Turkey 02955.46 +685.29 +0.67 +31.76

China 3343.83 +2.28 +0.07 +7.74

India 31613.08 -13.55 -0.04 +18.73

Currencies Latest Prev Local Local

close currency currency

% change % change

in 2017

Czech Rep 26.06 26.04 -0.06 +3.64

Poland 4.28 4.27 -0.16 +2.90

Hungary 310.65 310.19 -0.15 -0.59

Romania 4.60 4.60 -0.02 -1.36

Serbia 119.32 119.22 -0.08 +3.38

Russia 57.53 57.48 -0.08 +6.49

Kazakhstan 339.72 341.07 +0.40 -1.79

Ukraine 26.38 26.31 -0.27 +2.35

South Africa 13.31 13.32 +0.09 +3.17

Kenya 103.20 103.20 +0.00 -0.80

Israel 3.52 3.52 -0.18 +9.29

Turkey 3.53 3.55 +0.55 -0.07

China 6.63 6.62 -0.12 +4.77

India 65.34 65.12 -0.34 +3.98

Brazil 3.16 3.16 +0.02 +2.99

Mexico 17.94 17.93 -0.06 +15.49

Debt Index Strip Spd Chg %Rtn Index

Sov‘gn Debt EMBIG 314 -1 .03 8 04.34 1

All data taken from Reuters at 09:05 GMT. Currency percent change calculated from the daily U.S. close at 2130 GMT.

Reporting by Alexander Winning and Sujata Rao; Editing by Catherine Evans

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