Emerging-market stocks slumped the most in six weeks as reports showed Chinese manufacturing growth slowed and political tension escalated in Thailand. The Turkish lira touched a record low against the dollar.
Finance Minister Yair Lapid said Bank Leumi Le-Israel Ltd. should curb salaries and bonuses for its most senior managers as industry executives “cannot behave as if the party goes on” when most Israelis can’t make ends meet.
Bank Leumi Le-Israel Ltd. , the country’s biggest lender, won a U.K. lawsuit against ex-New York Stock Exchange board member Linda Joy Wachner over 13.4 million euros ($19 million) she lost in foreign-exchange trades.
Dozens of U.S. citizens who used offshore accounts to avoid taxes have helped the federal government in a criminal investigation of two Israeli banks, Bank Leumi Le-Israel Ltd. and Mizrahi Tefahot Bank Ltd., two people familiar with the matter said.
Israel’s benchmark stock index advanced for a seventh day, tracking gains in U.S. shares last week, as investors weighed lower borrowing costs and Iran’s nuclear accord with world powers. Saudi shares rose.