Emerging stocks hit three-month highs yesterday, boosted by US shares roaring higher, but currencies weakened led by a fall in the rouble after Russian authorities announced steps to increase central bank reserves.MSCI’s emerging market index rose 0.7% in its fourth day of gains, after solid US earnings and expectations of a large fiscal spending package hoisted the Dow Jones Industrial Average over the 20,000 level for the first time and gave a fresh impetus to global equity markets.Bourses in Hong Kong, India and Moscow jumped more than 1% while stocks in Turkey and much of emerging Europe also posted strong …read more
Source: Gulf times
