Europe Stimulus Prospects Help Emerging Markets Look Beyond Fed
- China's non-manufacturing growth offsets slowdown concern
- Turkey's lira, stocks rally on European Union's aid offer
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Emerging-market currencies advanced and stocks rebounded from a two-week low as China’s non-manufacturing industries expanded more than forecast and expectations for additional stimulus in Europe boosted demand for riskier assets.
Turkey’s lira rose for a second day as the European Union pledged financial aid for nations neighboring Syria that have been beset by the refugee crisis. The Brazilian real strengthened for the first time in three days. Chinese shares traded in Hong Kong posted the biggest gain in almost four weeks. Equity gauges in South Korea and Taiwan each rallied at least 1.6 percent.