Emerging Stocks Cap Biggest Weekly Decline Since August - Bloomberg

Emerging Stocks Cap Biggest Weekly Decline Since August - Bloomberg:

"Emerging-market stocks fell, capping the biggest weekly drop since August, as China’s money-market rates jumped and concern grew that earnings will falter. Indonesia’s rupiah posted its best week since June 2009.
The MSCI Emerging Markets Index retreated 0.3 percent to 1,027.27, extending its weekly slump to 1.4 percent. The Shanghai Composite Index (SHCOMP) slid to the lowest level in seven weeks as Great Wall Motor Co. (601633) tumbled 10 percent after earnings missed analysts’ estimates. Oil company OGX Petroleo e Gas Participacoes SA (OGXP3) sank 19 percent, pacing losses in Brazil’s Ibovespa. The rupiah strengthened the most since Sept. 19.
Stocks fell as China’s money-market rate completed the biggest weekly jump since a cash squeeze in June after the central bank refrained from injecting funds through open-market operations. More than half of the 125 companies that reported quarterly earnings in the gauge for developing nations missed sales estimates, while revenue increased by an average 2.1 percent, according to data compiled by Bloomberg."

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