EM stocks rise for the fifth day in a row, run up

Jan 26 (Reuters) – Emerging market shares continued their rally for a fifth straight session on Thursday, as the South African rand climbed ahead of the central bank’s interest rate decision.

The MSCI EM Equity Index was up 1% as of 12:27 AM ET, near a seven-month high, while the MSCI Emerging Markets Index rose 0.1%.

The South African rand rose 0.3% to 17.05 per dollar as investors avoided heavy betting ahead of the central bank’s decision at 1600 GMT.

“If they push through with a 50 basis point increase, even if it is the last, it will continue to provide substantial support for the rand,” said Christian Maggio of TD Securities. bicycle to south africa

South Africa’s index of shares strengthened 0.4%.

The Turkish lira fell 0.2% to 18.81 per dollar.

Turkey’s stock index fell 0.1%.

The Central Bank of Turkey announced that it would provide 2% support for foreign currency conversion to companies that import currency into the country from abroad, sell it to the central bank and pledge not to buy currency for a period determined by the regulator. Gives

The Hungarian forint fell 0.57% against the euro after two straight gains.

The Polish zloty fell 0.24% against the euro.

The Czech koruna was sluggish around 23.77.

In Asia, the Export-Import Bank of China (EXIM) has confirmed that it has granted a two-year moratorium on debt payments to Sri Lanka, China’s foreign ministry said.

Overall, trading in emerging markets remained sluggish as the Lunar New Year holiday in China is still on.

Original message in English is available on code: (Bansari Mayur Kamdar in Bangalore)

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