Emerging Stocks Extend Bounce as Traders Turn to Inflation Data
- EM equity gauge propelled by gains in Asia technology shares
- 20-day correlation between stocks, currencies broke last week
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Emerging-market stocks rose for the fourth time in five sessions, extending their rebound as traders await fresh data signaling the path for Federal Reserve interest-rate cuts.
An MSCI Inc. gauge for developing-nation equities finished the day 0.5% higher on Monday, with Asian technology shares including Taiwan Semiconductor Manufacturing Co. and Tencent Holdings Ltd. pacing gains. Currencies were split, with the Mexican peso trailing all its Latin American peers.