LONDON, July 14 (Reuters) – Chinese stocks fell back into
the red on Tuesday after three days of gains, dragging broader
emerging stocks lower while Iran’s nuclear deal with world
powers sent oil prices tumbling, taking a toll on Russian stocks
Overall, emerging assets, including in eastern Europe fell
as knee-jerk gains fueled by a deal for Greece faded and the
focus shifted on a deal between Tehran and six world powers that
could see more Iranian crude return to world markets.
By Sujata Rao
LONDON(Reuters) – Mutual funds investing in Russia and China were the top emerging equity performers in the first half of 2015, though a shakeout in Shanghai and weaker oil prices may erode those gains in coming months.
Funds specializing in eastern and central Europe topped the list, based on data compiled by Lipper, a fund ratings, ranking and information company belonging to Thomson Reuters. The data relates to funds sold in Britain.
By Sujata Rao
LONDON, July 13(Reuters) – Mutual funds investing in Russia
and China were the top emerging equity performers in the first
half of 2015, though a shakeout in Shanghai and weaker oil
prices may erode those gains in coming months.
Funds specialising in eastern and central Europe topped the
list, based on data compiled by Lipper, a fund ratings, ranking
and information company belonging to Thomson Reuters. The data
relates to funds sold in Britain.
LONDON, July 13 (Reuters) – A bailout deal for Greece and
Chinese shares’ bounce to two-week highs helped lift emerging
stocks by 1 percent on Monday, with the sharpest gains seen in
Euro zone leaders agreed on a roadmap to a possible third
bailout for Greece after night-long haggling, sparking gains on
equity and peripheral bond markets, even though the deal hinges
on Athens enacting key reforms this week.
LONDON, July 10 (Reuters) – Hopes of a cash-for-reforms deal
for Greece boosted Eastern European stocks and currencies on
Friday, while a Chinese market recovery helped to lift the main
emerging market equity index further off recent two-year lows.
Greek Prime Minister Alexis Tsipras has offered last-minute
concessions to try to save his country from bankruptcy, and
parliament in Athens is expected to vote on them. Creditors have
yet to comment on the plan, but markers have rallied.
LONDON, July 9 (Reuters) – A bounce in mainland Chinese
shares on Thursday lifted emerging equities off two-year lows,
while currencies also got some respite, including the yuan which
steadied slightly after days of volatility.
The Shanghai index rose 6 percent, its biggest
percentage gain in six years, as new government support measures
curbed selling. Shenzen shares jumped 6.4 percent and
Hong Kong rose 4.6 percent.
LONDON, July 8 (Reuters) – Contagion from China’s equity
rout engulfed emerging markets on Wednesday, particularly in
Asia, hitting currencies and driving the main emerging equity
benchmark into the red for the year.
Also weighing on European emerging markets was the threat of
a Greek euro exit, with a possible collapse of Greece’s banks
seen taking a toll on Balkan and other regional economies.
LONDON (Reuters) – Index provider MSCI on Tuesday asked for client feedback on whether it should follow its usual practice of waiting 40 days before taking action on Greece’s stock market closure or if different treatment is justified.
MSCI’s indexes provide a benchmark for more $7 trillion of investments globally, including over $1.7 trillion of emerging market investments. The company has said it may eject Greek stocks from these categories and relegate it to “standalone” status if capital controls imposed last week are prolonged.
LONDON (Reuters) – A three-week, 30 percent slide in the world’s second-biggest equity market has had only a glancing effect on emerging market portfolios still light on China’s Shanghai stocks, but the economic fallout from the shakeout poses a bigger risk.
Almost $3 trillion has been wiped off the A-shares listed in Shanghai and Shenzen since mid-June, despite increasingly frantic counter-measures. On Monday, an opening 8 percent bounce after a fresh liquidity addition gradually faded, with shares closing only 2 percent higher.
LONDON, July 2 (Reuters) – International investors, dismayed
by Nigeria’s decision to delay a naira devaluation they see as
long overdue, will hold back from its stock and bond markets,
raising risks of a deeper crisis in Africa’s biggest economy.
The afterglow from March, when an incumbent president handed
over power after what was seen as Nigeria’s freest ever
election, is dissipating as new leader Muhammadu Buhari shows
little sign of following up on promises of economic reform.