Emerging Stocks Head for Biggest Weekly Advance in Four Months - Bloomberg

Emerging Stocks Head for Biggest Weekly Advance in Four Months - Bloomberg:



"Emerging-market stocks headed for the steepest weekly gain since March as weak economic data spurred bets China will do more to boost growth and investors speculated that tension in Ukraine is easing. Malaysia’s ringgit surged to a nine-month high.



The Shanghai Composite Index rallied for a fifth week, set for its longest winning streak in 14 months. China Mobile Ltd. (941) jumped the most in five years in Hong Kong after saying it will cut device subsidies. Quanta Computer Inc. (2382) slid 2.4 percent in Taipei after its profit trailed estimates. The ringgit added 0.6 percent versus the dollar after economic growth beat estimates.



The MSCI Emerging Markets Index added 0.1 percent to 1,073.06 at 1:46 p.m. in Hong Kong, extending gains this week to 2.6 percent. China may adopt targeted interest-rate cuts for shanty-town redevelopment, the agriculture sector and small companies, according to a front-page commentary today in the China Securities Journal. Russia has proposed a cease-fire for humanitarian aid deliveries to parts of southeastern Ukraine."



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