Emerging Stocks Pause Four-Day Drop on Corporate Asia Outlook
- TSMC jumps after posting first sales increase since February
- Mexican peso paces Latin America gains on eve of US CPI data
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Emerging-market stocks rose for the first time in five days on Monday on signs of improving corporate performance in Asia and a thaw in US-China relations, while traders gear up for key US inflation data on Tuesday.
The benchmark MSCI Emerging Markets Index rebounded above its 50-day moving average, with Taiwan Semiconductor Manufacturing Co. contributing almost a third of the gauge’s gains after posting the first monthly sales increase since February. The $70.5 billion Vanguard FTSE Emerging Markets ETF reversed losses to finish the session up, while currencies were mixed.