Emerging Stocks Advance to 13-Month High on China Growth Outlook
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Emerging-market stocks rose to the highest since May 2013 as China unveiled measures to encourage lending, boosting the outlook for growth in the world’s second-largest economy.
The MSCI Emerging Markets Index rose 0.9 percent to 1,057.92. LG Display Co. surged 6.4 percent in Seoul as technology shares rallied. Agricultural Bank of China Ltd. advanced to a five-month high, pacing gains among lenders in Hong Kong. The Ibovespa advanced for a third day as Eletropaulo Metropolitana SA led Brazilian utilities higher.