Emerging-Market Stocks Rise to Four-Month High on China - Bloomberg

Emerging-Market Stocks Rise to Four-Month High on China - Bloomberg:



"Emerging-market stocks rose to a four-month high on speculation China will take further steps to bolster growth. South Africa’s rand erased its 2014 decline.



The MSCI Emerging Markets Index added 0.7 percent to 1,011.49, increasing for a third day. The Shanghai Composite Index climbed to a six-week high as China Petroleum & Chemical Corp., Asia’s largest refiner, jumped 2 percent. Brazil’s Ibovespa (IBOV) reversed an earlier advance as state-controlled oil company Petroleo Brasileiro SA sank. The rand paced gains among 20 out of 24 developing-nation currencies tracked by Bloomberg.



All 10 industries in the gauge for emerging-market stocks rose, led by consumer and financial shares. The Chinese government outlined a package of measures to support the expansion last week after easing funding restrictions for financial companies earlier this year. Premier Li Keqiang is under pressure to address weakening economic growth amid concern the nation will miss its 7.5 percent target for this year."



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