Emerging Stocks Drop on China as Aid Outlook Spurs Ukraine Bonds
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Emerging-market stocks fell as Chinese equities slid the most in seven weeks on concern reduced lending to the property industry will curb growth. Ukrainian shares and bonds rallied as prospects for financial aid grew.
The MSCI Emerging Markets Index lost 0.1 percent to 958.42 in New York. China Vanke Co. paced declines in Chinese developers after the Shanghai Securities News said banks curbed real-estate credit. The Shanghai Composite Index sank 1.8 percent. Ukraine’s stock gauge jumped the most since May 2010 and government bonds rose as the International Monetary Fund, Europe and the U.S. said they stand ready to help the country.