“Emerging-market stocks fell for the first time in three days as global policy makers clashed on ways to boost economic growth and Chinese companies from ZTE Corp. (000063) to Yunnan Copper (000878) Industry Co. predicted losses.
ZTE, China’s second-largest maker of telephone equipment, dropped the most in three months in Hong Kong. Yunnan Copper sank 2.4 percent. Mol Nyrt., Hungary’s largest refiner, fell to a two-week low on a government proposal to take over strategic gas-storage facilities. OAO Raspadskaya slid for a second day as Deutsche Bank AG downgraded shares of Russia’s coal producer.
The MSCI Emerging Markets Index (MXEF) slid 0.2 percent to 994.97 as of 12:30 p.m. in London. Finance chiefs at the International Monetary Fund meeting left Tokyo over the weekend at odds, with South Korea’s central bank chief urging Asia to add stimulus as Russia and Brazil called on rich nations to fix their own challenges. At stake is a world economy Bank of Israel Governor Stanley Fischer calls “awfully close” to recession.”
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