Emerging markets stocks and bonds have gained as China's Shangha Composite Index jumped 4.8%.
From Michael Patterson, Bloomberg:
Sept. 3 (Bloomberg) -- Emerging-market stocks, bonds and currencies gained as speculation increased that China will boost its equity market and rising commodities lifted the earnings prospects for raw-materials exporters.
The Shanghai Composite Index, the worst-performing equity index worldwide in the past month, jumped 4.8 percent after newspapers highlighted comments by a China Securities Regulatory Commission official that regulators will promote a “stable and healthy” market. Russian stocks rose, while the ruble strengthened the most against the dollar among developing-nation currencies as oil prices rallied. The spread between yields on developing-nation debt and U.S. Treasuries narrowed by 8 basis points, according to JPMorgan Chase & Co.’s EMBI+ Index.
