Emerging-Market Stocks Rise Most in Two Weeks; Egypt Shares Drop
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Emerging-market stocks rose the most in two weeks as purchases of new houses in the U.S. climbed more than forecast in December and technology companies rallied on speculation chip prices bottomed out. Egyptian shares sank the most since 2009.
The MSCI Emerging Markets Index advanced 0.6 percent to 1,142.49, the biggest gain since Jan. 12. Benchmark equity gauges in China, Russia, South Korea, Thailand, Indonesia and Hungary increased more than 1 percent. Egypt’s EGX 30 Index dropped after thousands protested against the government of President Hosni Mubarak. Stocks in Brazil and India fell as increasing inflation fueled speculation policy makers will raise interest rates.