The Public Investment Corp., South Africa’s biggest fund manager, said its $270 million investment in Camac Energy Inc. has already delivered returns as the oil explorer started trading in Johannesburg.
Emerging-market stocks fell as Chinese shares tumbled the most in five months amid speculation that reduced lending to the property industry will curb growth. Thai equities and the baht sank following a deadly bomb blast.
Asian stocks rose, with the regional benchmark index posting a two-week advance, as the yen capped its steepest weekly decline this year after the Bank of Japan boosted lending programs and U.S. manufacturing expanded.
The Australian dollar’s rally this month will be short-lived as demand for the nation’s chief export wanes with China stockpiling record amounts of iron-ore, according to Insight Investment Management Ltd.