Emerging Stocks Rise as Won Caps Longest Rally Since ’07 - Bloomberg

Emerging Stocks Rise as Won Caps Longest Rally Since ’07 - Bloomberg:

"Emerging-market stocks rose, paring the first monthly drop since August, as Petroleo Brasileiro SA to Cnooc Ltd. drove gains in energy producers. South Korea’s won rose for a fifth month in the longest rally since 2007.
The MSCI Emerging Markets Index added 0.6 percent to 1,018.28, paring its November decline to 1.6 percent. A measure of energy companies advanced for the first time this week as Petrobras and Cnooc climbed more than 1.1 percent. The Borsa Istanbul National 100 Index led gains among major developing-nation gauges, while India’s S&P BSE Sensex rallied 1.3 percent. South Korea’s won increased amid economic optimism.
All 10 groups in the measure of developing-nation shares advanced as energy shares rallied after West Texas Intermediate crude rebounded from the lowest level in almost six months. Consumer-price gains in the euro area quickened this month and unemployment in the region declined in October, data today showed. U.S. markets were shut yesterday for a holiday and equity exchanges closed at 1 p.m. in New York today."

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