Emerging Stocks Climb Most in a Week on China’s Europe Pledge
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Emerging-market stocks rose the most in a week after China said it will get more involved in resolving Europe’s debt crisis, boosting demand for riskier assets.
The MSCI Emerging Markets Index advanced 1.1 percent to 1,058.47 at the close in New York, the most since Feb. 8. Russia’s Micex Index rose to a six-month high as OAO OGK-3 surged on speculation it will merge its power assets in a share swap. India’s BSE Sensitive Index, or Sensex, also advanced to the highest level since August, led by Tata Motors Ltd., while Brazil’s Bovespa added 0.5 percent in Sao Paulo as homebuilders jumped.