Economics
Emerging Stocks Cap Biggest Weekly Decline Since August
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Emerging-market stocks fell, capping the biggest weekly drop since August, as China’s money-market rates jumped and concern grew that earnings will falter. Indonesia’s rupiah posted its best week since June 2009.
The MSCI Emerging Markets Index retreated 0.3 percent to 1,027.27, extending its weekly slump to 1.4 percent. The Shanghai Composite Index slid to the lowest level in seven weeks as Great Wall Motor Co. tumbled 10 percent after earnings missed analysts’ estimates. Oil company OGX Petroleo e Gas Participacoes SA sank 19 percent, pacing losses in Brazil’s Ibovespa. The rupiah strengthened the most since Sept. 19.