Stocks Advance on China as Yen, Dollar Fall With U.S. Treasuries

Stocks rose, led by emerging markets, as China unveiled details of its economic policy changes and investors speculated the Federal Reserve will continue stimulus. The yen and dollar slid against most peers while oil capped its longest streak of weekly losses since 1998.

The MSCI Emerging Markets Index gained 1.4 percent at 4:30 p.m. in New York, its best gain in almost two months, as the iShares China Large-Cap ETF climbed 4.4 percent for its biggest rally since July. The Standard & Poor’s 500 Index climbed 0.4 percent to 1,798.18, closing at a record for a third straight day. The 10-year Treasury yield rose, paring its weekly decline. Japan’s currency fell 0.2 percent to 100.25 per dollar, the weakest level in two months. Oil ended little changed at $93.84 a barrel, capping a sixth weekly decline.