Emerging-Market Stocks Rise Most in Four Weeks on Fed, Oil Price
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Emerging markets stocks rose for the first day in seven after the U.S. Federal Reserve pledged to keep interest rates at a record low for at least two more years.
The MSCI Emerging Markets Index rose 1.3 percent to 980.74 at 4:30 p.m. in New York, the biggest gain in four weeks, after earlier rising as much as 2.8 percent. Brazil’s Bovespa Index gained for a second day as oil companies followed crude higher. Chile’s Ipsa gauge climbed 2.5 percent. China’s Shanghai Composite Index climbed 0.9 percent while Taiwan’s Taiex Index jumped 3.3 percent and Indonesia’s Jakarta Composite Index advanced 3.4 percent.