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Emerging market stocks head for weekly gains on China boost, Fed relief

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NEW YORK, March 3 ― Emerging market stocks rose today and looked set to snap four weeks of losses, buoyed by prospects of a steady recovery in China and comments from a...

NEW YORK, March 3 ― Emerging market stocks rose today and looked set to snap four weeks of losses, buoyed by prospects of a steady recovery in China and comments from a Federal Reserve official backing the case for slower interest rate hikes.

“While growth in developed markets is expected to slow in 2023 from 2022, growth in emerging markets is expected to improve in aggregate, supporting investors,” said Shaun Murison, a senior market analyst at IG. Russia's rouble weakened against the dollar at 75.41. The country's service sector returned to growth for the first time in five months in February as client and new business increased, boosting firms' optimism for 2023.

 

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