Emerging markets rally on oil and China stimulus bets
Jakarta
EMERGING-MARKET stocks headed for the steepest four-day gain in 15 months as energy companies rallied with oil and investors bet that China will take more measures to support economic growth. Russia's rouble rose for a second day.
CNOOC Ltd and PetroChina Co surged at least 4.1 per cent while Bank of China Ltd led a gauge of mainland shares traded in Hong Kong to the largest gain in two weeks. Huaneng Power International Inc surged to a seven-year high in Hong Kong on prospects for industry reform. Dubai shares extended a bull-market rally and Qatar's equity gauge climbed 1.8 per cent. The rouble jumped 3.4 per cent versus the US dollar.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results