Emerging stocks reach six-week high on Chinese advance
January 22, 2015 6:11 am
Emerging-market stocks reached its highest in six weeks as it tracked Chinese stocks movement amid bets of an ECB stimulus.
The MSCI Emerging Markets Index added 2% to 976.07. It is the highest level for the benchmark index since December 8 of last year. All of the index’s ten industry groups advanced. The Shanghai Composite Index added its biggest two-day rally in six years.
Tencent Holdings Ltd. jumped by 3.7% while China Mobile Ltd. reached its strongest level since 2009.
The European Central Bank will meet later today. Market participants are betting that the central bank will add stimulus in a bond-purchase program worth 550 billion euro or $639 billion to be announced by ECB head, Mario Draghi.
The material has been provided by InstaForex Company – www.instaforex.com
Emerging-market stocks reached its highest in six weeks as it tracked Chinese stocks movement amid bets of an ECB stimulus.
The MSCI Emerging Markets Index added 2% to 976.07. It is the highest level for the benchmark index since December 8 of last year. All of the index’s ten industry groups advanced. The Shanghai Composite Index added its biggest two-day rally in six years.
Tencent Holdings Ltd. jumped by 3.7% while China Mobile Ltd. reached its strongest level since 2009.
The European Central Bank will meet later today. Market participants are betting that the central bank will add stimulus in a bond-purchase program worth 550 billion euro or $639 billion to be announced by ECB head, Mario Draghi.
The material has been provided by InstaForex Company – www.instaforex.com
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