LONDON: Emerging market stocks held their ground on Tuesday, taking their lead from firmer trading in Europe and on Wall Street and shrugging off China's weakest economic growth data in six years.
China's economy expanded 7.3 percent in the third quarter official data from Beijing showed, though with a pick-up in factory output.
Chinese shares ended 0.7 percent lower after the data as worries about its loss of momentum were compounded by uncertainty about upcoming talks between the Hong Kong government and pro-democracy protesters.
"The industrial production number was a bit stronger, which probably reflects improvement in export sector," ING Investment Management emerging markets equity strategist, Maarten-Jan Bakkum, said.
MSCI's emerging equities index was flat at 981.74 points and about 1.6 percent above last week's seven-month low with many emerging market currencies also higher.
Russia's share markets edged up as the price of oil -- Russia's main revenue earner -- clawed back more of ground lost in the past few months. The death of Total boss Christophe de Margerie in a plane crash at a Moscow airport crimped gains, however.
The rouble was down a touch at 40.97 against the dollar and at 46.1583 on the dollar-euro basket the central bank uses to gauge the rouble's nominal exchange rate, though they were within ranges seen in the past few days.
Bond investors are keen to see whether Russia's Finance Ministry will go ahead with a weekly Treasury auction on Wednesday, after cancelling last week's one.
The Chinese data also helped reassure investors of continued demand for South African commodity exports, helping the rand edge up 0.3 percent.
South African government debt was bid higher, pushing the yield for the 2026 bond nearly 5 basis points lower to 8.03 percent.
Meanwhile, Turkey's lira held firm as hopes the US Federal Reserve will keep interest rates low enough to prop up demand for higher yielding emerging market assets offset worries about the war in neighbouring Syria.
The main share index rose 0.48 percent to 76,698.37, while the 10-year benchmark bond yield eased to 8.91 percent from Monday's 8.95 percent.
In Central Europe, bourses edged up, taking their lead from a rally in Germany, with Warsaw and Budapest stocks both 0.2 percent higher.
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