Emerging Stocks Drop on China as Ukraine Loan Outlook Spurs Debt - Bloomberg

Emerging Stocks Drop on China as Ukraine Loan Outlook Spurs Debt - Bloomberg:

"Emerging-market stocks headed for a month low after data showing Chinese manufacturing unexpectedly fell weighed on Asian shares. Ukraine’s stocks and bonds gained as the debt-strapped country prepares for talks in Moscow.

SAIC Motor Corp. (600104) paced losses by Chinese automakers in Shanghai amid concern city governments will impose more measures to curb pollution. The Ukrainian Equities Index (UX) climbed for a fourth day and the government’s 2014 bonds rallied. OAO Gazprom led a 0.8 percent advance on the Micex Index in Moscow, while stocks in Turkey and Hungary added at least 0.8 percent following better-than-expected euro-zone factory data. Brazil’s Ibovespa increased 0.2 percent as commodities including crude oil and industrial metals advanced.

The MSCI Emerging Markets Index dropped for a fifth day, losing 0.1 percent to 989.12 at 1:13 p.m. in London. China’s Purchasing Managers’ Index fell to a three-month low, suggesting the world’s second-largest economy is vulnerable to a slowdown. Investors are awaiting the fate of an $85 billion monthly bond-buying program before the Fed’s monetary policy meeting."

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