Emerging Stocks Climb to 17-Month High as Russia, Saudi Advance - Bloomberg

Emerging Stocks Climb to 17-Month High as Russia, Saudi Advance - Bloomberg:



"Emerging-market stocks climbed to a 17-month high as Chinese shares rose amid bets the government will do more to bolster growth. Russian equities rebounded and Saudi Arabia jumped on plans to open the market to foreign investors.



China Petroleum & Chemical Corp. (386) rose the most since March in Hong Kong as the Hang Seng China Enterprises Index jumped 2.4 percent. Saudi stocks rallied 2.8 percent to their highest in more than six years. The Micex Index (INDEXCF) in Moscow ended its longest losing streak since January after rebels in Ukraine released bodies from the Malaysian jet crash site. The rupiah slid before the results of the presidential election today.



The MSCI Emerging Markets Index added 1.1 percent to 1,074.50 by 2:40 p.m. in London, the strongest level since February 2013. Russia is happy rebels handed over black boxes to Malaysian representatives, Russia’s Foreign Ministry said in a website statement. Saudi Arabia will allow foreign investors into its stock market in the first half of 2015, providing greater access to the Arab world’s biggest exchange."



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