Emerging markets rose, with the stock benchmark advancing to the highest level in more than four years, as signals of easing US-China trade tensions supported appetite for riskier assets.
The MSCI’s equity benchmark increased 1.4%, driven mainly by gains in shares of Taiwan Semiconductor Manufacturing Co., Tencent Holdings Ltd. and Alibaba Group Holding Ltd. The sister currency gauge edged 0.1% higher, with the Thai baht and South African rand outperforming.