nov 18 reuters  property and technology stocks pushed emerging market shares 07 lower on thursday while turkey’s lira flirted with a neverbeenhit 11 level to the dollar and south africa’s rand stayed at 10month lows ahead of central bank decisions the lira slipped further to a record low of 1098 per dollar after turkey president tayyip erdogan reiterated his opposition to high interest rates ahead of a central bank meeting where another 100 basis point cut to 15 is expected despite a 20 annual inflation a further fall in the currency is seen feeding back into inflation the decision from the central bank of turkey cbt is due at 1100 gmt “if cbt were to skip the rate cut the lira would still come under pressure again because of the likely reaction erdogan will have” said tatha ghose a fx and em analyst with commerzbank “if cbt were to cut the rate it will hardly matter whether it is by 50bp 100bp or 200bp there would be no driver to counter the lira’s ongoing move which would likely intensify” meanwhile the south african reserve bank sarb is expected to hold rates at 35 in a decision seen too close to call the rand erased early gains to slip 01 “the significant rise of the headline inflation since the spring supports a rate hike at today’s meeting” commerzbank said but “if the sarb leaves its key rate unchanged as we expect this is likely to cause disappointment and lead to losses for the rand” earlier in the day the indonesian and philippine central banks kept their rates unchanged as expected while most asian central banks have held rates to spur growth peers elsewhere with some exceptions like south africa have turned aggressively hawkish to stave off inflation signals from chinese authorities that some currency appreciation could be tolerated sent the yuan’s tradeweighted basket index to 10188 the loftiest since dec 9 2015 russia’s rouble rose 02 as it attempts to gain back steep losses made last week and this on deepening tensions with the west emerging market stocks looked set for their worst session in three weeks as developer china evergrande group struggles to avoid defaulting on 300 billion in debt it sold its entire 18 stake in streaming services firm hengten network group for hk213 billion 2735 million incurring a loss of hk85 billion tencent which owns 20 in hengten fell and took tech and internet stocks lower other chinese media stocks fell after state media flagged risks related to metaverse elsewhere south africa’s stock index retreated from alltime highs while polish shares dropped 14 for graphic on emerging market fx performance in 2021 see tmsnrtrs2egbfvh for graphic on msci emerging index performance in 2021 see tmsnrtrs2ousndx