Emerging-market equities and currencies gained after "very successful" US-China talks ahead of a summit between the two countries' presidents this week. A fourth day of declines in oil prices added to positive sentiment.
MSCI Inc.'s gauge for developing-nation stocks gained 1.1% to its highest level in over a week on Monday, led by rallies in Samsung Electronics Co., Taiwan Semiconductor Manufacturing Co. and Media Tek Inc. A sister gauge for currencies edged higher.
The gains reflected improved investor confidence following the diplomatic progress between the US and China, with both nations preparing for a presidential summit. The simultaneous drop in oil prices over four consecutive days further supported the upward trend across emerging markets.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing