Emerging Stocks Post Third Weekly Gain as Indian Shares Rally - Bloomberg

Emerging Stocks Post Third Weekly Gain as Indian Shares Rally - Bloomberg:



"Emerging-market stocks posted a third straight weekly gain as a rally in Indian shares offset concern China’s slowdown is deepening. The rupee rose as the main opposition bloc swept to power with the biggest win in 30 years.



India’s benchmark index (SHCOMP) rose to a record, led by ICICI Bank Ltd. (ICICIBC) The Ibovespa rose as Centrais Eletricas Brasileiras SA led a rally among Brazilian utilities after reversing its losses in the first quarter. China’s small-company stocks sank, dragging the benchmark gauge down more than 20 percent from its February peak.



The MSCI Emerging Markets Index rose 0.3 percent to 1,032.57, extending its gain this week to 2.5 percent. Narendra Modi declared a new era in India as his opposition bloc secured the biggest election win in 30 years, having vowed to revive economic growth. A report showed Chinese banks had the biggest quarterly increase in bad loans since 2005 as a slowdown caused defaults to rise."



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