EMStocks Break SixDay Losing Streak; FX Rise ahead of ECB


June 10 Reuters Emerging market shares rose for the first time in seven sessions on Thursday with heavyweight China shares rallying on highlevel SinoU.S. talks, while currencies rose ahead of U.S. inflation data and the European Central Banks policy decision.

Mainland China shares rose around half a percent after talks between respective commerce officials when they agreed to promote healthy trade and cooperate over differences that have roiled markets and dented global economic growth.

Most other Asian peers joined the rally, taking MSCIs index of EM shares 0.4 higher. It had lost more than 1 over the previous six sessions. South Africa and Turkey added 0.3 each.

Later in the day, the ECB is expected to keep its money taps wide open as the region recovers from and economic dent left by the pandemic, while U.S. inflation data at 1230 GMT will be watched to judge what the U.S. Federal Reserves stand might be next week.

Any change to easy monetary policy by major central banks could see a flight from highyielding assets of emerging markets.

Turkeys lira extended gains to a fifth straight against both the euro and the dollar, while South Africas rand broke a threeday losing streak when it lost 2.5. Losses deepened late on Wednesday when struggling power utility Eskom said it would extend power cuts.

Russias rouble rose 0.4 despite falling oil prices. Focus on Friday will be on a possible 50 basis point hike in interest rates.

The strength of the Russian current…


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