Emerging assets reach one-year high as stimulus spurs yield grab
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Kuala Lumpur
EMERGING-MARKET stocks and currencies rose to the highest levels in a year as a recovery in oil prices and optimism that central banks will keep monetary policy accommodative boosted demand for higher-yielding assets.
A gauge of developing-market shares was poised for a fourth weekly gain. Chinese stocks in Hong Kong rose to a three-month high as investors bet that the central bank will add to stimulus. Russia's rouble and Malaysia's ringgit led gains in currencies as Brent crude headed for its biggest weekly advance in a month. Turkish assets advanced before a credit review by Moody's Investors Service on Friday.
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