Emerging Markets Halt Brexit Decline as Fed Turns More Dovish
- Fewer officials see more than one U.S. rate increase this year
- MSCI’s China decision spares smaller markets of competition
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Developing-nation stocks and currencies ended a four-day streak of losses as the Federal Reserve signaled that it will increase U.S. interest rates more slowly than previously projected, propping up demand for riskier assets.
Equity benchmarks from South Africa to Hungary and India each advanced at least 1 percent. Chinese stocks traded in Hong Kong rose as MSCI Inc.’s decision Tuesday not to include mainland shares in its indexes meant there won’t be a rush to shift money into Shanghai. Russia’s ruble gained for the first time in a week as most developing-nation exchange rates strengthened against the dollar.