Emerging Stocks Ride China Stimulus to Best Day Since November
- EM stocks rise for sixth-consecutive day; currencies gain
- Strong US economy and China pledges boost mood for risk assets
This article is for subscribers only.
Emerging-market stocks had their best day in nearly a year on Thursday, propelled higher by new stimulus pledges by the Chinese government and strong US economic data.
MSCI Inc.’s EM stock index closed 2.3% higher — the most since November — to cap off a six-day winning streak. Tech companies including Tencent Holdings, Alibaba and PDD Holdings contributed the bulk of the index gains. The developing currency counterpart gained 0.1%.