LONDON, Jan 10 (Reuters) - South African and Turkish stocks
hit fresh record highs on Thursday, as stronger-than-expected
Chinese exports boosted confidence in riskier emerging markets.
The value of Chinese exports rose 14.1 percent last month
compared with a year earlier, data showed on Thursday.
Resilience in the Chinese economy is a boon for South
Africa's mining companies, while investors have been
bullish on Turkey's stock market, which rallied by over
50 percent last year.
Benchmark emerging equities rose 0.35 percent to
three-day highs, and Chinese stocks rose 0.4 percent.
Emerging European currencies showed mixed performance.
The Czech crown hit a six-month low on
expectations the central bank will step in to weaken the
currency, though Czech stocks hit their highest since
August 2011.
The Romanian leu hit an 8-1/2 month high against
the euro, extending recent gains after a clear election win last
month gave the Romanian government a mandate to negotiate a new
deal with the International Monetary Fund.
The Polish zloty hit a one-week high against the
euro, a day after Poland's central bank cut rates but signalled
a pause in the easing cycle.
Polish Finance Minister Jacek Rostowski called on the
central bank to continue cutting rates, however.
"We do not exclude that the (Monetary Policy) Council may
make a break in Feb to avoid four cuts in a row, but should
resume easing in March," ING analysts said in a client note.
In Egypt, five-year credit default swaps fell to a one-month
low of 465 basis points, according to Markit, after the country
this week got a $2.5 billion lifeline from Qatar, while the
pound hovered near record lows and stocks fell
from recent two-month highs.
(Reporting by Carolyn Cohn; editing by Jason Neely)