Emerging Stocks End Nine-Day Drop on China as Russian Bonds Gain
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Emerging-market stocks ended a nine-day rout as Chinese credit-growth data signaled that monetary easing is cushioning the economic slowdown. Russian bonds rose the most among developing nations on bets for deeper interest-rate cuts.
China Construction Bank Corp. helped send Hong Kong-traded mainland shares to their best rally in two weeks. Empresas ICA SAB jumped in Mexico City after saying it’s seeking to attract private funds. The Ibovespa dropped for the sixth time in seven days in Sao Paulo. Russia’s five-year bond yield fell to a two-week low after Credit Suisse Group AG predicted policy makers would cut rates by as much as 300 basis points Friday. The ruble strengthened for a second day.