Emerging-market stocks declined to a three-week low after better-than-estimated U.S. data bolstered speculation the Federal Reserve will reduce stimulus. South Africa’s rand slumped to the lowest level since 2009.
South Africa’s corruption ombudsman, Thuli Madonsela, rejected allegations that her probe into the spending of state funds on President Jacob Zuma’s home was designed to weaken the government before elections next year.
The rand declined for a third day amid the longest selloff of South African bonds in five years on concern that the nation will struggle to finance its current- account gap when Federal Reserve stimulus dries up.
China’s escalation in its challenge to Japan’s administration of islands near Taiwan reflects an effort to gain greater command of the air and seas in the western Pacific as it builds itself into a maritime power.
The yen rose from a six-month low against the dollar as investors awaited U.S. job data this week that may provide further evidence as to when the Federal Reserve will reduce stimulus that has weakened America’s currency.
Emerging-market stocks fell to the lowest level in two weeks as Hyundai Motor Co. and Kia Motors Corp. tumbled amid concern earnings will falter. Brazil’s real slumped to a three-month low amid disappointing economic data.