Hopes of a breakthrough in U.S.-China trade talks put emerging- market stocks on course for their biggest percentage gain in a month on Friday, while South Africa’s rand, the Korean won and the Chinese yuan all gained as the dollar weakened.
Chinese stocks enjoyed their best weekly gain in five weeks after U.S. President Donald Trump on Thursday called the first day of trade talks with China in over two months “very, very good”.
The MSCI index of developing world stocks jumped 1% and the trade-sensitive stocks of South Korea, Hong Kong and India rallied.
China’s yuan strengthened by 0.2%, with investors watching out for a potential currency pact between the two sides, following a Bloomberg report that it could form part of a deal to suspend further tariff hikes.
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