* MSCI EM stocks down 0.3%, currencies down 0.2%
* South African rand rises after three days of losses
* Sentiment hit by weak U.S. overnight data
By Ambar Warrick
April 16 (Reuters) - Emerging markets in Europe and the Middle East made small gains on Thursday, while their Asian counterparts fell after the International Monetary Fund forecast no economic growth in Asia for 2020.
Investors held off large trades before economic data from the United States and China -- weekly jobless claims and first- quarter gross domestic product -- which is expected to further reflect the impact of the coronavirus pandemic.
Dismal retail sales and industrial output from the United States, released overnight, underscored the toll of curbing business activity over extended periods, with the readings in April only set to be worse.
Some optimism persisted over the coronavirus slowing in its U.S. and European epicentres, but it still looked as if it would ravage the global economy in the medium term. The IMF forecast Asia's annual economic growth would grind to a halt for the first time in 60 years. recovery in risk sentiment depends on how quickly economies can re-open without risking overloading their healthcare systems and, most of all, not risking any chance of a secondary spread," said Stephen Innes, chief global markets strategist at AxiCorp.
"The risk of escalating economic damage is putting enormous stress on governments under immense pressure to relax social-distancing measures sooner, rather than later."
South Africa's rand ZAR= edged up after three days of losses. Stocks in the country added about 0.5%. Still, the country was set for a deep recession in 2020, with the coronavirus serving to further unsettle an already shaky economy.
The Polish zloty PLN= fell against the dollar, while stocks in the country .WIG20 traded sideways. Inflation in Central Europe's largest economy declined less than expected in March, data showed on Wednesday. Saudi Arabian riyal SAR= traded flat. Stocks in the oil exporter dropped 1.6% as oil prices recovered from 18-year lows, although fears remained over waning demand. O/R
China's yuan CNY=CFXS slipped ahead of the GDP data on Friday. Stocks inched higher. CNY/ .SS
For GRAPHIC on emerging market FX performance in 2020, see http://tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance in 2020, 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.