Emerging Stocks Fall for First Time in Five Days on Oil
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Emerging-market stocks declined for the first time in five days as falling crude-oil prices dragged producers lower and China’s service industries expanded at the weakest pace in more than a year.
The MSCI Emerging Markets Index slid 0.4 percent to 1,002.50. Brazil’s Bovespa stock index dropped 1 percent, with power company Cia. Energetica de Sao Paulo and state-controlled oil producer Petroleo Brasileiro SA falling. Russian oil company OAO Tatneft declined 2.2 percent, after profit sank 17 percent in the first half. PetroChina Co., China’s biggest oil producer, slid 1 percent. Indexes in Russia, Turkey and Mexico retreated.