* Saudi Arabian stocks surge as Aramco debuts
* Quiet Fed expected later today- Analyst
* EM currencies largely subdued
By Ambar Warrick
Dec 11 (Reuters) - Developing world stocks inched up on Wednesday, while currencies trod water ahead of the conclusion of a U.S. Federal Reserve policy meeting, with uncertainty over the Sino-U.S. trade war adding to the cautious mood.
Amid swathes of mixed headlines over trade talks, markets are holding their breath ahead of a Dec. 15 deadline for further U.S. tariff action on China, which, if met, could derail future negotiations.
"It's been very quiet today, markets haven't taken it as a given that the Dec. 15 tariffs have been avoided," said Simon Harvey, FX market analyst at Monex Europe.
Stock markets strengthened slightly, as a report on Tuesday suggested that the United States may delay Sunday's deadline.
"There's not much buying on the headlines necessarily, because the sentiment can be quickly be reversed," Harvey added.
The MSCI emerging markets stock index .MSCIEF ticked up to a more-than two-week high, with Saudi Arabian stocks .TASI marking large gains on the market debut of the now world's largest listed company, Saudi Aramco 2222.SE .
Shares of the oil and gas behemoth opened up 10% on their Riyadh stock market debut on Wednesday, closing in on the $2 trillion valuation long sought by Saudi Crown Prince Mohammed bin Salman. were also waiting for the conclusion of the Federal Reserve's final policy meeting this year. While the bank is expected to keep rates on hold, markets will be watching for any suggestions of future action, along with economic growth prospects in 2020.
" In this uncertain trade environment, they have to wait for the data to show effects before they start monitoring their actions," Monex's Harvey said.
MSCI's emerging market currencies index .MIEM00000CUS was flat as the dollar ticked up ahead of the Fed decision.
The South African rand ZAR= ticked up after touching its weakest level against the dollar in nearly three weeks on Tuesday.
The country's headline consumer price inflation was growing at its weakest pace in 10 years in November, data from Statistics South Africa showed. GRAPHIC on emerging market FX performance 2019, see http://tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance 2019, see https://tmsnrt.rs/2OusNdX
For TOP NEWS across emerging markets CENTRAL EUROPE market report, see CEE/
For TURKISH market report, see .IS
For RUSSIAN market report, see RU/RUB
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.