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The optimism of the new year on Thursday gave a harsh reality, since some bad economic data were to fall more than 3 percent to the emerging actions.


However, emerging sovereign bonds recovered slightly after a series of new releases for a total of 4,500 million dollars.

The currencies of emerging economies in Eastern Europe while the weak operating the gas dispute between Ukraine and Russia continued to harm the supply of some parts of Europe.


The benchmark index of the MSCI Emerging shares collapsed 3 percent to 576.79 at 1125 GMT. This accumulated followed by a second day low, after seven consecutive sessions of gains.

On Thursday, some data unfavorable to exports from Germany joined the job cuts in the private sector in the United States published on Wednesday to underline the depth of the global economic slowdown.


Data from developing countries were also ill. Hungary showed a larger than expected drop in industrial production in November from 12.2 percent. Czech Republic recorded an unexpected trade deficit for the same month.

"At the beginning of the year, the market was optimistic, perhaps thinking that all problems disappeared with the New Year," said Murat Toprak, strategist for Societe Generale changes.


"Now we are returning to the fundamentals of the economy. The recession is quite clear in developed markets and it is now obvious that the situation in emerging markets is deteriorating very rapidly," he added.

"Turkey, Czech Republic, Hungary, Russia, all these countries are already in recession. The central banks are trying to reduce pressures on the economies by cutting interest rates, but will take some time. There is also an issue of funding, reduction of flows to emerging markets. We have become a reality, "Toprak said.


But the differential risk of emerging debt, measured by the Bond Index Plus Emerging Markets JP Morgan (EMBI +), rose only 2 basis points, a slight improvement from an increase of 6 basis points at its meeting in New York, After a series of new placements of debt of several countries that totaled 4,500 million dollars.