Pursuits
Emerging Assets Rise With Commodity Prices as Fed Concern Eases
- Russian ruble leads advance in developing-market currencies
- Energy producers rally as oil approaches $50 a barrel
Emerging Markets Brace for Fed
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Emerging-market stocks rallied the most in six weeks and currencies gained as oil prices rose and optimism grew that global markets can withstand the impact of higher U.S. interest rates.
Energy companies led gains in equities. South Korea’s won rose even as China cut the yuan’s reference rate to the weakest level since March 2011. Russian assets advanced after the government sold its first Eurobonds since sanctions were imposed. The Ibovespa jumped the most in two weeks after Brazilian lawmakers supported budget legislation proposed by the country’s acting president.