* EM stocks index falls for 9th time in 11 sessions
* China stocks hit 2-month low, sparks fly with U.S.
* Currencies in Asia slide but lira, rand, peso nudge higher
By Marc Jones
LONDON, Dec 23 Emerging market stocks fell for
the ninth time in 11 days on Friday, taking their drop since
Donald Trump's U.S. election win to 7.5 percent and leaving
investors facing an uncertain start to 2017.
Festive cheer was in short supply with some of the same
worries that brought a torrid start to 2016 for EM assets
starting to resurface.
Chinese stocks , which are heading for a 17
percent walloping for the year, most of which came in January,
fell to a two-month low, while the yuan limped
back towards an 8-1/2 year low. reut.rs/1WAiOSC
As was the case at the beginning of the year, EM currencies
are being forced to bow to the dollar as the prospect of
further U.S. rate hikes and a fiscal spending drive under Donald
South Africa's rand, Turkey's lira and
Mexico's peso took advantage of the quiet pre-Christmas
market to nudge higher. So did Poland's zloty and
Hungary's forint after they had both hit more than
14-year lows versus the greenback on Thursday.
But Asia continued to struggle.
The South Korean won hit a fresh 9-month low at 1,204.5
per dollar, the Taiwan dollar touched its
lowest in nearly five months and Singapore's central bank was
suspected to have intervened to prop up its dollar
after it fell to a more than six-year low..
"We have almost come full circle on the dollar attitude,"
said UBP's EM macro and FX strategist Koon Chow.
"Similar to a year ago, we are expecting more U.S. rate
increases and also similar to a year ago we are seeing renminbi
(yuan) depreciation pressure due to outflows and arguably that
could intensify next year."
One of the reasons could be lower demand for yuan to buy
property as Beijing bids to cool the overheating parts of the
country's housing market.
Another is uncertainty about how China's relations with the
United States will fare under Donald Trump.
Chinese state media on Friday expressed alarm and warned of
a "showdown" after the president-elect named Peter Navarro, an
economist who has urged a hard line against Beijing, to head a
new White House National Trade Council.
"The new administration should bear in mind that with
economic and trade ties between the world's two largest
economies now the closest they have ever been, any move to
damage the win-win relationship will only result in a loss for
both sides," the official English-language China Daily said in
Emerging Markets Prices from Reuters
Equities Latest Net Chg % Chg % Chg
Emrg Mkt Indx 840.95 -1.56 -0.19 +5.89
Czech Rep 919.76 +2.23 +0.24 -3.82
Poland 1933.50 -10.23 -0.53 +4.00
Hungary 31653.38 -47.47 -0.15 +32.33
Romania 7014.22 -7.69 -0.11 +0.14
Greece 624.96 -6.89 -1.09 -1.01
Russia 1126.03 +0.23 +0.02 +48.74
South Africa 42833.75 -450.36 -1.04 -6.47
Turkey 77201.88 -202.85 -0.26 +7.63
China 3110.00 -29.55 -0.94 -12.13
India 26033.92 +54.32 +0.21 -0.32
Currencies Latest Prev Local Local
close currency currency
% change % change
Czech Rep 27.01 27.02 +0.02 -0.06
Poland 4.41 4.41 -0.03 -3.49
Hungary 310.03 310.24 +0.07 +1.49
Romania 4.53 4.52 -0.16 -0.26
Serbia 123.46 123.50 +0.03 -1.61
Russia 61.00 60.93 -0.11 +19.59
Kazakhstan 331.15 333.50 +0.71 +2.82
Ukraine 26.27 26.15 -0.46 -8.82
South Africa 13.98 14.03 +0.36 +10.60
Kenya 102.20 102.30 +0.10 +0.00
Israel 3.83 3.81 -0.49 +1.49
Turkey 3.51 3.51 -0.01 -16.91
China 6.95 6.95 -0.01 -6.56
India 67.77 67.84 +0.10 -2.32
Brazil 3.29 3.29 +0.00 +20.47
Mexico 20.73 20.75 +0.12 -17.16
Debt Index Strip Spd Chg %Rtn Index
Sov'gn Debt EMBIG 362 -1 .01 7 35.58 1
All data taken from Reuters at 09:59 GMT.
Currency percent change calculated from the daily U.S.
close at 2130 GMT.
For GRAPHIC on emerging market FX performance 2016, see tmsnrt.rs/2e7eoml
For GRAPHIC on MSCI emerging index performance 2016, see tmsnrt.rs/2dZbdP5
For CENTRAL EUROPE market report, see
For TURKISH market report, see
For RUSSIAN market report, see )
(Editing by Andrew Roche)