Emerging-market stocks advanced, with the benchmark index set for the biggest gain in more than a week, as economic data from China to Poland fueled speculation central banks will take more steps to boost growth. The MSCI Emerging Markets Index rose 0.5 percent to 951.69 at 10:14 a.m. in London, poised to add the most since Aug. 23. Zijin Mining Group Co. (2899), China’s largest gold producer by market value, and OAO Severstal (CHMF), Russia’s second-biggest steel company, climbed for the first time in seven days as stimulus speculation lifted metals. Samsung Card Co. (029780) jumped 15 percent, the top advance in the developing-nations gauge, after saying it will buy back shares. Chinese manufacturing shrank for the first time in nine months in August, while South Korea reported the slowest inflation in 12 years. Poland’s central bank has scope to cut interest rates, Governor Marek Belka said in a Bloomberg Television interview. Federal Reserve ChairmanBen Bernankesignaled on Aug. 31 another round of bond purchases is possible. ... Continue to read.
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