Emerging Stocks Gain Second Day With Currencies on Fed Rate Bets
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Emerging-market stocks and currencies rose for a second day as speculation mounted that the Federal Reserve won’t be forced to raise U.S. interest rates soon amid recent data showing weaker-than-forecast economic growth.
The shekel rose for a second day as Israeli voters went to the polls to elect a prime minister and governing coalition. Turkey’s lira climbed 0.6 percent against the dollar amid signs that government pressure for deeper rate cuts is easing. The ruble extended the biggest advance in emerging markets in the past month as Russian tax-payment deadlines outweighed a drop in crude prices. Chinese equities rose to the highest level since 2008.