EMERGING MARKETS: Emerging stocks rise on Wall Street’s sustained rally
India and Taiwan stocks lead the gains in Asia while SA shares also climb
Emerging-market stocks posted strong gains on Friday as investor sentiment was boosted by Wall Street’s late rebound in the previous session that helped it sustain Wednesday’s dramatic rally, but analysts said risks of a slide remain. The MSCI index of emerging-market shares was 0.8% higher with India and Taiwan stocks leading gains in Asia, up nearly 1% each, while Chinese stocks recovered from previous sessions’ losses. Stocks in China rose after authorities allowed banks to set up new wealth management firms, which combined with looser monetary policy implied Chinese stock investors “will no longer have to worry about liquidity” in 2019, Wei Yi, an analyst at Kaiyuan Securities, said in a note. An over 1% rise in Russian stocks and SA shares added to the broader index’s gains. US stocks ended higher on Thursday following steep losses for much of the session, a day after markets globally were supported by the major US indexes posting their biggest daily percentage increases in ne...
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