Emerging Stocks Rebound as China, Fed Outlook Boost Risk Demand
- Advancing crude prices drive Russian stock, currency gains
- Commodity producers lead Brazilian shares higher as real rises
Chinese Economy Adds Plunging Exports to Market Trouble
Emerging-market stocks climbed and currencies strengthened as speculation mounted that China will take further steps to bolster growth in the world’s second-largest economy and concern faded that the Federal Reserve may raise U.S. interest rates this month.
The MSCI Emerging Markets Index added 1.6 percent to 790.57, its first gain in three days. Hong Kong’s Hang Seng China Enterprises Index rallied 4.1 percent. The Shanghai Composite Index ended a four-day drop on speculation state-backed funds bought shares. Raw-material producers led gains in Brazil, which counts China as its biggest trading partner. A gauge of 20 developing-nation currencies ended a five-day slump, rising 0.7 percent.