Emerging-market stocks headed for the highest close in two weeks and most currencies strengthened on speculation China and the U.S. will maintain policies to support economic growth. Turkish shares rebounded.
Emerging stocks rose for a second day after protesters in Hong Kong began talks with the government. Russian stocks climbed after their biggest weekly drop since July, while South Africa’s rand jumped against the dollar.
Back in late January of this year, the so-called “Fragile Five” emerging markets (Brazil, Turkey, South Africa, India, and Indonesia) came under fire as traders sold their currencies in a mini-EM contagion.
Emerging stocks headed for their longest streak of monthly gains since 2005 as bets central banks will support economic growth helped offset concern the conflict between Ukraine and Russia is worsening. The ruble fell today.