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EM Review: Rally Resumed as Jobs Data Outweighed Virus Fears

  • Early vaccine trial is promising; Fauci warns virus may mutate
  • U.S. puts sanctions on China officials over new Hong Kong law
Workers labor at the construction site of an elevated highway on the outskirts of Shanghai, China, on June 12.

Workers labor at the construction site of an elevated highway on the outskirts of Shanghai, China, on June 12.

Photographer: Qilai Shen/Bloomberg
Updated on

Emerging-market stocks posted the biggest weekly gain in a month as better-than-expected U.S. payroll numbers added to optimism the world economy is recovering from the coronavirus crisis. At the same time, global infections continued to rise, slowing re-opening moves in some countries. Gains were also capped by the resurgence of U.S.-China tensions over the imposition of a new security law on Hong Kong.

The following is a roundup of emerging-market news and highlights for the week through July 5: