Emerging stocks rose for the first time in four days, led by consumer companies. The Borsa Istanbul National 100 index climbed to a record, while Chinese shares declined the most in three weeks on property concerns.
China’s stocks fell the most in three weeks after JPMorgan Chase & Co. cut its growth outlook for the nation’s economy and concern grew the government is introducing more property restrictions to limit gains in housing prices.
China Vanke Co., Poly Real Estate Co. and Gemdale Corp. led declines by shares of property developers on concerns that China’s economy is slowing and that authorities may introduce new curbs to rein in home prices.
China’s stocks fell as economic reports overshadowed speculation the government will postpone the resumption of initial public offerings. A gauge of consumer- discretionary stocks dropped the most in two weeks.
The last time Chinese stocks were this cheap relative to bonds, the Shanghai Composite Index rallied 18 percent within two months. The prospect of history repeating itself is luring some fund managers back to equities.
China’s stocks rose, capping a second week of gains for the benchmark index, as property companies climbed after Gemdale Corp. reported higher sales and Aluminum Corp. of China Ltd. announced an asset-sale plan.