Emerging-market stocks rallied from the biggest drop in three months after Thailand exempted stocks from capital controls imposed on international investors.
Thailand's SET Index jumped 11 percent in Bangkok after plunging 15 percent yesterday, its biggest slide in 16 years, following the introduction of the new rules. Benchmarks in South Korea, Indonesia, Malaysia, Pakistan, Russia, Hungary and South Africa were all up more than 1 percent.
The Morgan Stanley Capital International Emerging Markets Index, which tracks 25 markets, added 1.2 percent to 891.70 at 11:16 a.m. in London. The measure yesterday dropped 1.6 percent, the most since Sept. 11, after Thailand's rule change highlighted the risks of investing in developing
It looks like everybody is happy again.
