Positive U.S. data sends emerging markets higher

October 4, 2012

Emerging market stocks rose from their lowest level in a week as U.S. jobs and manufacturing data did better than forecasted.

A private report yesterday showed better-than-expected employment gains in the U.S., while services industries expanded more than forecast in September.

The MSCI Emerging Markets Index climbed 0.1 percent to 1,003.92 while the BSE India Sensitive Index surpassed 19,000 for the first time since July.

The 21 countries in the MSCI’s developing-nation index send about 13 percent of their exports to the U.S. on average, data compiled by the World Trade Organization show.

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