Emerging-Market Stocks End Five-Day Drop on China; Ruble Rallies
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Emerging-market stocks rose for the first time in six days as regulators said an exchange link between Hong Kong and Shanghai will start in a week.
The Shanghai Composite Index jumped to a three-year high. The ruble strengthened 2.3 percent after Russia’s central bank pledged to limit local-currency funding to ward off speculators. The BUX Index added 2.9 percent in Budapest, led by OTP Bank Plc, as the government said the conversion of foreign-currency mortgages will be based on the central bank’s official forint exchange rate on Nov. 7. Brazil’s real gained 0.3 percent.