* Asian shares snap 3-day winning streak * Russian c.bank to report inflation expectations * All eyes on Jackson Hole symposium Aug 26 (Reuters) - Emerging market currencies were muted on Thursday against a steadying dollar, as the focus remained on an annual central banks’ symposium, while stocks tracked Asian units lower on rising cases of Delta coronavirus variant. The MSCI’s index for emerging market currencies struggled for direction, with the dollar gaining some ground. Investors eye the Federal Reserve’s Jackson Hole symposium for clues about the timeline for tapering monetary stimulus. “Expectations of any significant policy announcement at the – virtual – Jackson Hole event are low,” said Bas van Geffen, senior macro strategist at Rabobank. “In fact, the market appears have added some speculation that the taper announcement could be delayed even further.” South Africa’s rand weakened 0.2%, lagging its peers in Europe, Middle East and Africa. Government bonds in Africa’s most industrialized economy also fell in early trading. The Russian rouble and the Turkish lira eked out gains. Russia’s central bank is set to publish a report on expectations on inflation — which were elevated recently — providing the bank with grounds to raise rates. Markets in Asia were on the back foot, as fears about the fast-spreading coronavirus variant dulled sentiment, with the MSCI’s broadest index of Asia-Pacific shares outside Japan snapping a three-day winning streak. Shares in Russia were subdued as investors awaited earnings reports. Russian oil & gas company Tatneft fell 3.5% and was on track for its worst day in over a month, after the first-half dividend came in below expectations. Russian lender TCS Group Holding fell 1% even as it reported another record quarterly net profit and raised its full-year profit guidance. South Africa also had a slew of earnings reports, while the country’s stock index fell 0.4%. Absa Bank Kenya rose 0.3% after its first-half pretax profit quadrupled year on year after loan impairments dropped and interest income jumped. Most currencies in central and eastern Europe were trading in a narrow range. For GRAPHIC on emerging market FX performance in 2021, see tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance in 2021, see tmsnrt.rs/2OusNdX For TOP NEWS across emerging markets For CENTRAL EUROPE market report, see For TURKISH market report, see For RUSSIAN market report, see (Reporting by Shreyashi Sanyal in Bengaluru; editing by Uttaresh.V) Our Standards: The Thomson Reuters Trust Principles.
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