LONDON: Emerging stock markets shed just over half a percent on Tuesday, with China, Russia and Poland among the top losers as company values sank worldwide.
Russian stocks traded down 1.24 percent at 1016 GMT and the rouble eased 0.1 percent, hit by lower oil prices, while the Shanghai Composite Index closed down 0.86 percent, led by financial, mining and food product manufacturing shares.
Rosneft shares were jittery on concerns over how it would finance the takeover of TNK-BP, while stocks of TNK-BP's Russian-listed subsidiary, TNK-BP Holding fell 1.2 percent.
Major emerging market currencies also edged down, with South Africa's rand losing 1.2 percent at 1018 GMT, while Poland's zloty was hurt by worse than expected retail sales.
The rand has bounced back from a 3-1/2 year low hit earlier this month but is still weighed down by months of labour unrest and worsening of its credit rating.
"Even though there are signs that the worst of the local strike activity may be behind us, South Africa's fundamental backdrop remains relatively precarious given the widening current account deficit, the sizeable fiscal deficit situation and the deteriorating output gap," analysts at Absa Capital said in a note.
The zloty eased 0.55 percent against the euro, while elsewhere in central and eastern Europe there was cautious trade in the Czech crown, down 0.15 percent, ahead of a parliamentary vote of confidence this week.
The Turkish lira shed 0.34 percent and stocks were down 0.1 percent as investors awaited new central bank inflation forecasts.
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