Economics
Emerging Stocks Rise on China Stimulus; Won Weakens With Ruble
- Benchmark equity gauge rises to the highest level in a week
- Currencies halt two-day advance as crude prices slip
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Emerging-market stocks gained for a second day after Chinese banks issued a record amount of loans in January. Russia’s ruble fell after talks between Russia and Saudi Arabia ended without an agreement to cut oil output.
The Shanghai Composite Index jumped the most in three months, led by a 2.4 percent advance in PetroChina Co. Ltd. Raw-material producers and banks led the Ibovespa higher in Brazil, which lists China as its biggest trading partner. The ruble weakened for the first time in three days as crude, Russia’s biggest export, retreated. The won dipped and government bonds rose on speculation the Bank of Korea will cut interest rates after one of its board members called for a reduction.