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* Chinese stocks close more than 2%
* Moderate emerging market currencies
* South African rand beats highest in three months
By Susan Mathew
Nov. 23 (Reuters) – Emerging market equities fell on Friday, dragged down by mainland China stocks, as investors worried about trade tensions between Canada and the United States in a bid to sell their shares. a high-stakes meeting between leaders of both countries next week.
The MSCI Emerging Markets Equity Index was down 0.4% and was on the verge of a 1.4% weekly loss due to a sharp technology boom, signs of a slowdown global growth and growing trade tensions.
Analysts are increasingly skeptical about the positive outcome of a meeting between US President Donald Trump and his Chinese counterpart Xi Jinping at the G20 summit due to open on November 30th. , while officials of both countries have a sharp speech.
"We do not expect a significant relaxation of the tariffs put in place. The best we can hope for is a ceasefire where both sides agree to keep talking and there is no more tariff, "said Khoon Goh, head of research on Asia to ANZ.
"I think the markets are taking a realistic approach in that they do not take into account a major breakthrough."
Chinese stocks fell by more than 2%. Investors are also expecting the November PMI, which is expected next week, due to new signs of slowing growth or signs of stabilization.
Most stock markets, from India to Johannesburg, were also in the red.
The MSCI Emerging Markets Currencies Index fell slightly despite the weak dollar. Mr Goh of ANZ said he expected currencies to hold up before the G20.
The Chinese yuan plummeted after official data suggests that the central bank has spent more to support the currency last month.
The South African rand fell 0.5%, making some of Thursday's gains after a quarter-point rise in the official borrowing rate of the country's central bank, which allowed the currency to reach its highest level in three months.
The benchmark interest rate was raised to 6.75%, with the upside risk associated with inflation remaining high in the long run, the bank said. The expectations of analysts and economists have been divided between holding or increasing bank rates.
"Unless we are witnessing a new episode of tightening global financial conditions accompanied by a rise in oil prices and a weaker rand, we doubt that the central bank is raising the key rate in a near future, "said Alexey Pogorelov, an analyst at Credit Suisse, in a note rising rates.
The Turkish lira rose 0.3% and was on track to record weekly gains for the sixth week out of seven. The currency, however, is still on the brink of an annual loss of nearly 30% over the previous year. dollar.
For GRAPHIC on 2018 emerging market currency performance, see tmsnrt.rs/2egbfVh For GRAPHIC on the performance of the emerging MSCI 2018 indices, see tmsnrt.rs/2OusNdX.
For TOP NEWS in Emerging Markets
For the report on the Central European market, see
For the report on the TURKEY market, see
For the report on the Russian market, see (Report by Susan Mathew to Bengaluru, Ediitng of Emelia Sithole-Matarise).
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