Emerging-market currencies and stocks rose as expectations of an imminent US monetary policy easing pushed the dollar lower and strengthened investor appetite for riskier assets.
The MSCI gauge for developing-markets equities rose 0.6%, while the index tracking currencies was up 0.2%. Chinese big-tech companies, including Alibaba Group Holdings Ltd. and Tencent Holdings Ltd., were the main drivers of equity gains, while Asian currencies also outperformed peers.