EMERGING MARKETS-Stocks fall on virus, China worries; Turkey cenbank decision in focus


Aug 12 (Reuters) – China’s weak lending numbers and increased business scrutiny, political tensions in Poland, and central bank decisions in Turkey, Mexico and Peru headlined emerging market moves on Thursday. The MSCI’s index of emerging market stocks fell 0.4% as Chinese shares slipped with scrutiny on the online insurance sector being the latest in a series of crackdowns. Online insurer ZhongAn tumbled 11.4%.

Combined with rising COVID-19 cases, worries outweighed a positive handover from Wall Street where data showing slowing U.S. inflation growth assuaged fears about a rush to taper monetary stimulus.

As this dented the dollar, riskier currencies caught a break with an index of EM currencies looking to snap a four-session losing streak.

The Chinese yuan flitted between minor gains and losses and markets speculated if the fall in new bank loans to nine-month lows warranted an easing in monetary policy.


Turkey’s lira was up…

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