China’s Firmer Stance on Yuan Sparks Relief in Emerging Markets
- Sudden rally in Chinese stocks halts EM index’s losing streak
- Investors seeking more concrete measures from Beijing: Matys
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Signs that China is becoming more forceful in supporting its markets provided some relief for developing-nation assets battered by concerns over the world’s second-largest economy.
Emerging-market stocks jumped, halting a nine-day losing streak that was the longest since April last year. Chinese equities staged a sudden rally in late Asian trading, hours after Beijing escalated its defense of the yuan, bolstering sentiment toward other risk assets.