Emerging Markets Advance as Receding Brexit Odds Ease Poll Panic
- Bookmaker odds of U.K. leaving European Union around 28%
- Prague Stock Exchange leads advance in eastern Europe
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Emerging-market assets advanced for a fourth day as confidence grew the U.K. may avoid a vote to leave the European Union.
Stocks in eastern Europe, with the most to lose in the event of Brexit, rallied as bookmakers’ odds gave a little more than a one-in-four chance of a “leave” verdict. Chinese stocks traded in Hong Kong led gains in Asia. The rand strengthened as inflation in South Africa unexpectedly slowed. The real rose as the Brazilian government won a Senate vote. Russian government-bond yields fell to the lowest level in almost two years.