Emerging Stocks Pare Quarterly Slump on Korean Builders, Turkey
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Emerging-market stocks rose to a two-week high, paring the worst start to a year since 2008, as investors speculated South Korea will announce measures to aid the nation’s property market and Turkey’s trade deficit unexpectedly narrowed.
Hyundai Development Co. jumped to an 11-month high in Seoul. Haci Omer Sabanci Holding AS, Turkey’s second-largest industrial group, had its biggest rally in almost two weeks. NHN Corp., a South Korean search-engine operator, advanced the most since March 19 after Shinhan Investment Corp. said prospects of its mobile messenger application will bolster its share price. Gamuda Bhd. fell the most in two months in Kuala Lumpur after at least two brokerages downgraded the stock.