Emerging Markets News
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Emerging-market stocks gained the most in two weeks after a gauge of Chinese services industries rose. India’s rupee led advances in currencies and the Philippine peso appreciated after a credit-rating upgrade.
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The Philippine peso strengthened the most in two weeks while stocks and bonds rose after the country won a debt rating upgrade from Moody’s Investors Service, completing the nation’s ascent to investment rank.
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Oi SA’s merger with Portugal Telecom SGPS SA is likely to bolster Brazil’s largest landline phone carrier as it battles better-equipped rivals in the world’s fifth-biggest wireless market. The shares fell on concern it won’t be enough.
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The Philippines will withstand pressure stemming from the impending reduction of the Federal Reserve’s stimulus with growth exceeding 7 percent this year, central bank Governor Amando Tetangco said.
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