Emerging Stocks Rise to 5-Month High as Fed Boosts Risk Appetite
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Emerging-market stocks rose, driving the benchmark index to the highest level in almost five months, after the Federal Reserve signaled it will keep interest rates low through 2014 and U.S. economic data showed consumers and businesses are spending.
The MSCI Emerging Markets Index gained 1.5 percent to 1,014.98 at the close in New York, the highest since Sept. 2. Brazil’s Bovespa index gained for an eighth day, the longest winning streak in 18 months. The Hang Seng China Enterprises Index climbed 2.4 percent as it traded for the first time this week following Lunar New Year holidays. The ISE National 100 Index surged 3.7 percent in Istanbul.