Emerging-Market Stocks Surge on China Stimulus Pledges, US Data

-- Emerging-market stocks had their best day in nearly a year on Thursday, propelled higher by new stimulus pledges by the Chinese government and strong US economic data.MSCI Inc.’s EM stock index closed 2.3% higher — the most since November — to cap off a six-day winning streak. Tech companies including Tencent Holdings, Alibaba and PDD Holdings contributed the bulk of the index gains. The developing currency counterpart gained 0.1%.

“Greater stimulus measures out of China and market pricing an aggressive Fed easing cycle, while the US economy is strong, bode well for risk assets,” Elias Haddad, a strategist at Brown Brothers Harriman, wrote in a note. “This encouraging risk backdrop is a drag on USD mostly against growth-sensitive currencies.”

In credit markets, El Salvador sovereign bonds outperformed Thursday, with notes due in 2050 rising 1.7 cents on the dollar as investors gained more confidence over the prospect of a program with the IMF. Dollar bonds from Ecuador, however, plunged as the nation continues battling ongoing forest fires and power cuts.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Emerging Market Stocks Drop as Data Stokes China Economy Jitters(Bloomberg) -- Emerging-market stocks declined on fresh signs of economic troubles in China in a session marked by low liquidity with the US market closed...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Dow, S&P 500 surge as stocks mount a comeback from deep lossesInflation is back in focus for investors gauging pressures that could influence the size of Fed rate cuts.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

WIF’s market surge: Analysts forecast $10 peak after 8% surgeWIF has surged by 7.3% over the past month. An analysts is eyeing dogwifhat to hit a new all time high of $10.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Stock market today: Dow, S&P 500, Nasdaq surge as Fed fires up rallyWall Street has absorbed the Fed's message that a deep cut will prove positive for the economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Volatility Fears Spur $28 Billion Emerging-Market Debt Spree(Bloomberg) -- Borrowers in the developing world are shoring up their defenses against volatility that could shake their biggest markets in the US and derail...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »