Emerging Stocks Rise Most in Two Months on China Property Rally
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Emerging-market stocks climbed the most in two months, paring its February decline, as China Vanke Co.’s better-than-estimated earnings boosted Chinese developers and Magyar Telekom Nyrt.’s dividend lifted Hungarian shares.
Vanke, China’s biggest developer, surged the most in five weeks in Shenzhen after saying net income rose last year. Vale SA advanced as Goldman Sachs Group Inc. said the miner showed signs of a turnaround. Magyar Telekom, the Hungarian unit of Deutsche Telekom AG, had its biggest gain since June. FirstRand Ltd. rose as Citigroup Inc. recommended shares of the South African lender. Indian stocks erased gains and the rupee fell after the government signaled record borrowing plans.