Michael Ganske News
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The exchange-traded fund tracking developing-nation shares sank the most in two weeks as equity indexes from Hungary to Brazil fell along with U.S. stocks and oil. BYD Co., the Chinese carmaker partly owned by Warren Buffett’s Berkshire Hathaway Inc., surged 11 percent.
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Emerging-market stocks fell, spurring the biggest decline in the benchmark index in over a week, as commodities fell and as European leaders said Spain isn’t on the verge of asking for a rescue.
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Michael Ganske, head of emerging markets research at Commerzbank AG in London, comments on China widening the yuan’s trading band to 1 percent from 0.5 percent, to take effect on April 16. He also speaks about the increase in the foreign-investment quota enacted by Chinese policy makers on April 3:
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Developing-nation stocks fell, led by energy companies, as oil retreated and European leaders disagreed on ways to address the region’s debt crisis.
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Emerging-market stocks advanced for the first time in six days as U.S. Federal Reserve Chairman Ben S. Bernanke said he would not rule out further measures to boost the economy.
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Just three months after the biggest developing economies sold dollars to support their currencies, policy makers from Colombia to China are moving to weaken exchange rates and revive exports as the International Monetary Fund forecasts the slowest trade growth in three years.
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Auto companies, clothing retailers and appliance makers are posting the fastest profit growth in emerging markets, fueling a rally in developing-nation consumer shares after they fell to the cheapest level in three years.
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Vladimir Putin may be his own toughest competition in next year’s presidential race.
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For Denis Oleinikov, the breaking point came last September when policemen trashed his company’s offices in Kiev.
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Most emerging-market stocks rose as speculation central banks in the U.S., Europe and China will boost efforts to lift growth outweighed concern that a global slump will damp earnings.
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