Chinese bluechips down 1.2
Morgan Stanley says EM stocks are 2 off its target
SP cuts growth forecast for some Asian economies
Russian rouble edges up; CS expects 100bps interest rate hike
June 29 Reuters A slide in Chinese shares pushed an index of emerging markets stocks into the red for the first time in five days on Tuesday, with rising coronavirus cases denting sentiment across markets.
Chinese bluechips fell more than 1, taking MSCIs index of emerging market shares 0.4 lower. Investors are also looking forward to U.S. jobs data that could sway the Federal Reserves policy outlook.
Virus fears resurfaced as a surge in cases in some parts of Asia and Africa among others spurred worries that measures to contain the spread could undermine global economic recovery. Morgan Stanley said EM stocks are 2 off its target.
SP on Monday cut its growth forecasts for some of Asias top economies including India, the Philippines and Malaysia citing slow rollout of vaccines as the top risk for emerging markets. It could still take almost two years for EM Asia to be vaccinated to 70 herd immunity, the ratings agency said
South Africa39;s rand fell 0.3, heading towards earlyMay lows. The country tightened curbs over the weekend as the highly contagious Delta variant first identified in India added to its woes amid slow vaccination rollouts. Less than one adult in every hundred is fully vaccinated in the subSaharan region, compared to an average of over 30 in more advanced…