Emerging-market stocks capped the biggest decline in three months, led by commodity and technology companies, after data showed a slowdown in Chinese manufacturing. Brazil’s real led losses among major currencies.
Most Chinese stocks fell after a manufacturing gauge declined and on speculation the government will announce property curbs. A rally for energy shares almost erased a loss of as much as 1.3 percent for the benchmark index.
China’s stocks rose for the first time in four days as railway companies rallied on prospects for increased investment, overshadowing concern the government will step up measures to rein in rising home prices.
Chinese developer shares fell the most in two weeks amid concerns that Beijing and Shanghai will implement new measures to curb demand and rising property prices, prompting other cities to follow suit.
Most emerging-market stocks declined as homebuilders led Brazil’s Ibovespa to the biggest slump among global equity gauges. Russian stocks slid after Bank of America Merrill Lynch cut its outlook for the nation’s shares.
Emerging-market stocks fell, wiping out a weekly gain, as Indonesia’s surprise trade shortfall outweighed data showing China’s manufacturing strengthened. Turkey’s lira was set for the longest slide since 2002.
China’s stocks fell the most in almost a week, led by developers, as surging home prices spurred speculation the government may tighten property curbs. Smaller companies tumbled on concern valuations are excessive.