High Yielders Pace Emerging-Market Currency Gains, Stocks Jump

Emerging-market currencies were mixed but high-yielders like the Brazilian real and Colombian peso led gains as investors focused on carry trades. MSCI's emerging-share index jumped 2.3 percent, its best day since mid-June, helped by China's state-sponsored rescue of its tech shares and a $427 million inflow into BlackRock's EEM fund, its first since February. The backdrop remained tense with the US and Iran exchanging strikes for a 10th consecutive day, though market participants noted risk sentiment improved selectively.