Emerging Markets News
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Sina Corp. gained, helping Chinese shares traded in New York to a five-month high, after analysts recommended buying the nation’s Internet companies as users climb and their stock trades cheaper than peers in the U.S.
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Most Chinese stocks fell after Moody’s Investors Service cut the debt ratings of six European nations and a former central bank official said the government is unlikely to significantly loosen credit this year.
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Emerging-market stocks rebounded from the biggest drop in more than two months after Greek lawmakers approved austerity plans and China’s premier said the nation needs to “fine-tune” economic policies, adding to speculation the government will take more steps to boost demand.
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Taiwan’s best-performing debt fund is buying Russian, Romanian and Turkish government bonds as the European Central Bank’s injection of funds into lenders helps ward off a cash crunch.
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