Emerging Stocks Advance on China Stimulus as Currencies Weaken
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Emerging-market stocks rose for the first time in 10 days after China boosted stimulus. Developing-nation currencies declined as the Federal Reserve raised its U.S. interest rate forecast.
Industrial & Commercial Bank of China Ltd. advanced as a gauge of Hong Kong-traded Chinese shares posted the biggest gain in two weeks. AFK Sistema lost more than a third of its market value after the Russian holding company’s owner was placed under house arrest.