Most Emerging Stocks Drop on China Data as Brazil Sinks
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Most emerging-market stocks fell as weaker growth in Chinese manufacturing overshadowed monetary easing in Europe and the prospect of interest-rate cuts in India. Brazil’s Ibovespa dropped for the first time this week.
Lenovo Group Ltd. slumped 2.7 percent in Hong Kong after talks to buy parts of International Business Machines Corp.’s server division broke down, according to a person familiar with the discussions. Hyundai Merchant Marine Co. sank to an eight-year low in Seoul. Indian stocks jumped the most in Asia, while Turkey rallied to a record. Brazilian mining company Vale SA, whose biggest export market is China, slumped 2.7 percent.