Manufacturing Data Moves Emerging Markets to Three Week Highs

“Emerging-market stocks headed toward the highest in more than three weeks after manufacturing in the U.S. and China picked up pace in April, boosting the outlook for exporters to the world’s two biggest economies.

The MSCI Emerging Markets Index (MXEF) advanced 0.5 percent to 1,030.32 as of 12:00 p.m. in London, set for the strongest close since April 6. Samsung Electronics Co. (005930), South Korea’s largest exporter of consumer electronics, added 1.4 percent. Most emerging marketswere closed for public holidays yesterday. The BUX Index (BUX) rose 0.9 percent as Hungary prepared to start negotiations on a credit line from the International Monetary Fund and the European Union….”

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