Emerging-market stocks advanced, sending the benchmark index to its third straight weekly gain, as China’s economic growth accelerated. Taiwan Semiconductor Manufacturing Co. led technology shares to a record.
The Conference Board will release a monthly leading economic index for China from May 17 that will signal turning points in the world’s fastest-growing major economy, the New York-based research group said.
Foreign direct investment in China increased at a faster pace in September, underscoring confidence in the outlook for the fastest-growing major economy and adding to pressures on the nation’s exchange rate.
China’s stock market decline shouldn’t be blamed on index futures, China Securities Journal cited Wang Lianzhou , former deputy director of National People’s Congress’ financial and economic committee, as saying.
China’s economic expansion eased to 10.3 percent in the second quarter and industrial production cooled more than forecast in June, signaling a deeper second- half slowdown that may add to risks for the global economy.