Emerging Stocks Gain on South Korean Growth, U.S. Manufacturing

Emerging-market stocks rose, sending the benchmark index higher for a second day, after the International Monetary Fund raised its growth forecast for South Korea and U.S. manufacturing grew faster than estimated.

The MSCI Emerging Markets Index climbed 0.5 percent to 995 as of 4:32 p.m. in Singapore, with two stocks rising for every one that fell. South Korea’s Kospi index added 0.6 percent and the won gained to the strongest level since Aug. 19 after the International Monetary Fund said the currency was “undervalued” and raised its economic growth forecast for the nation to 6.1 percent, from a July prediction of 5.75 percent.