* China economic growth loses momentum - data
* China cenbank unexpectedly cuts rates on policy loans
* Russian rouble up, Moscow to hold talks with Germany
* Turkey cenbank expected to hold interest rate on Thursday
Jan 17 (Reuters) - An index of emerging market stocks fell
for a third straight session on Monday as China technology and
property stocks slipped despite policy easing, and Turkey's
central bank meeting later this week and tensions over Ukraine
were in focus.
Russia's rouble inched up, last at 76.19 per dollar.
Moscow is expected to hold talks with Germany this week amid
concerns that Russia could invade Ukraine if diplomacy fails to
meet Moscow's objectives.
Ukraine's hryvnia was near nine-month lows against
the dollar, and dollar bonds continued to fall.
"The rhetoric of the statements indicates a willingness to
escalate, so the situation is likely to get worse before it gets
better... In the coming days or weeks, geopolitics override
solid fundamentals for the Russian rouble," said Alex
Kuptsikevich, senior financial analyst at FxPro.
A mixed bag of economic data from China showed the momentum
of growth is slowing, prompting some market analysts to
speculate that more easing may be coming after the central bank
unexpectedly cut the borrowing costs of its medium-term loans on
While the monetary stimulus saw some buying in China stocks
, high-value tech stocks and the
troubled property sector fell, dragging MSCI's broader index of
emerging market shares 0.3% lower.
The Chinese yuan was buoyed by strong seasonal
corporate demand ahead of the long Lunar New Year holidays,
which begin at the end of the month.
Investment group Ashmore said on Monday that
weakness in emerging markets over the last three months of 2021
led to a further decline in assets.
"However, the global macro economic environment is expected
to be more supportive for emerging markets in 2022," Ashmore CEO
Mark Coombs said, citing U.S. interest rate hikes already priced
in, monetary and fiscal stimulus supporting China's growth and
commodity prices providing a tailwind to terms of trade.
Most bourses elsewhere rose, with Turkey's BIST index
up for 11 straight sessions after a currency crisis-led
Turkey's lira edged up 0.4%. The central bank is
expected to keep the key interest rate unchanged at 14% after
500 basis points of cuts since September.
Turkey's annual inflation stands at 36% as of December, and
is seen rising further in coming months before declining to
around 27% by the end of the year, a Reuters poll showed.
Finance Minister Nureddin Nebati said annual inflation rate will
be in single digits by mid-2023.
For GRAPHIC on emerging market FX performance in 2021, see http://tmsnrt.rs/2egbfVh
For GRAPHIC on MSCI emerging index performance in 2021, see https://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 Susan Mathew in Bengaluru; Editing by Timothy