* Chinese tech spooked by Didi U.S. delisting
* Evergrande plummets on debt warning
* Turkey's lira leads EMEA losses
Dec 6 (Reuters) - Emerging market stocks fell close to a
one-year low on Monday, tracking losses in major Chinese
technology stocks, while South Africa's rand rose on early signs
that the Omicron coronavirus variant may be causing largely mild
The rand added 0.6% to the dollar, leading gains
across Europe, the Middle East and Africa (EMEA) after anecdotal
accounts suggested that Omicron may be causing less severe
clinical symptoms than other coronavirus variants.
But doctors and experts cautioned that more research was
needed before definitive conclusions could be drawn.
Concerns over the new variant had spurred large swings in
markets over the past week as investors feared more curbs on
activity, while uncertainty over a hawkish Federal Reserve also
weighed on sentiment.
MSCI's index of emerging market (EM) stocks sank
0.7% on Monday to 1,215.86 points, just a few points above a
one-year low of 1,208.54 touched last week.
China's Baidu and Alibaba Group, which
are among the largest EM stocks, sank more than 5.5% each after
ride-hailing firm Didi Global Inc's decision to delist
from the New York Stock Exchange last week caused jitters over
major Chinese stocks with U.S listings.
Didi's move comes amid a sweeping crackdown by Chinese
authorities on major tech firms this year. China's securities
regulator said on Sunday that Beijing's recent policy moves were
not aimed at specific industries or private firms, and were not
necessarily linked to companies seeking to list in overseas
"China issues have not disappeared and despite reassuring
words from various state organs regarding China company U.S.
listing over the weekend, nerves surrounding China big-tech will
continue," Jeffrey Halley, senior market analyst at OANDA wrote
in a note.
Internet giant Tencent, the third of the so-called
"BATs" trio fell more than 3%, as steep tech losses in Wall
Street also spilled over to broader markets.
Debt-ridden property developer, China Evergrande,
plunged around 20% after it said there was "no guarantee" that
it would have enough funds to meet debt repayments. China's
Guangdong province on Friday summoned Evergrande's Chairman.
Most stocks in EMEA logged small moves. But Russian stocks
fell more than 1% ahead of talks between Russian
President Vladimir Putin and his U.S. counterpart Joe Biden on
EM currencies were also flat, as investors awaited more
clarity on the Omicron front, while keeping to safe havens such
as the dollar and the yen.
Turkey's lira was the worst performer in EMEA,
sinking 0.3% in choppy trade as concerns over monetary policy
showed no signs of easing.
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 Ambar Warrick; Editing by Alex Richardson)