Emerging-market stocks rose, with the benchmark index poised to close at a six-month high, as European finance ministers moved toward a second rescue of Greece and after China cut banks’ reserve requirements.
Emerging-market stocks advanced, pushing the benchmark index to its biggest weekly gain in three, as euro-area leaders sought to persuade investors that measures they’re taking to staunch the region’s sovereign debt crisis will work.
Russian stocks are trading at the most expensive relative valuations since September 2008 after surging oil prices spurred mutual funds to pour record amounts of money into the world’s largest energy exporter.
Emerging-market stocks rose to a three-week high after the pace of manufacturing picked up in China last month, boosting Asian information and technology companies, and Brazil’s Bovespa erased earlier losses.
Emerging-market stocks advanced, sending a benchmark index to the highest in a week, after the U.S. reported faster-than-expected growth in the second quarter and German lawmakers approved the expansion of a European rescue fund.