Emerging-market stocks dropped for the first time in three days, led by energy companies, as Petroleo Brasileiro SA and China Petroleum & Chemical Corp. tumbled. Indonesia’s rupiah slid to the lowest level since 2009.
Mohanlal Kapoor, a street vendor in north India, holds a card entitling him to subsidized food for his wife and four children. To get supplies, the Kapoors must battle an estimated 15 million families in their state toting similar pieces of paper that they’re not entitled to.
Emerging-market stocks dropped to a one-month low, led by Turkish equities, on concern that a slower expansion in the euro area will crimp global growth. Brazil’s real fell the most among the world’s major currencies.
Tata Consultancy Services Ltd., Asia’s largest computer-services exporter by market value, reported second-quarter profit that beat analysts’ estimates after winning more information-technology outsourcing orders.
Tata Consultancy Services Ltd. rose the most in a month in Mumbai trading after Goldman Sachs Group Inc. upgraded its rating, while New York City awarded the Indian company naming rights to its annual marathon.