EMERGING MARKETS-Growth, virus worries weigh on equities; China shares rally
* JPM, Morgan Stanley, Goldman cut China GDP growth forecast
* China stocks rally on loose monetary policy hopes
* Turkish lira flat, cenbank decision on Thursday
Aug 9 (Reuters) – Chinese stocks rallied on Monday on hopes of an easing in monetary policy but failed to bolster the emerging market share index, which was pressured by concerns over slowing global growth and rising coronavirus cases.
MSCI’s index of emerging market stocks fell about 0.1%, with losses in tech shares hitting Taiwan and South Korea. Shares in Turkey, Russia, Poland, meanwhile, gained between 0.1% and 0.5%.
A bigger-than-expected jump in China’s factory gate inflation, slowing exports, tightening business regulations and worries about the rising number of coronavirus cases prompted JPMorgan, Morgan Stanley and Goldman Sachs to cut their growth forecast for the world’s second-biggest economy.