Rebound
Emerging-market equities rebounded after nine straight weeks of losses, the longest losing stretch since 1994. The MSCI index slumped 6.6 percent last week to the lowest level since Dec. 20 amid concern over a deepening European crisis.
The gauge's 14-day relative strength index, which tracks momentum by comparing closing prices with daily trading ranges, fell to 13.9 at the end of last week, the lowest level since June 2002.
The developing-nations index is valued at 9.8 times estimated profit and has lost 0.6 percent this year, compared with the 11.6 multiple for the MSCI World Index, which has added 0.4 percent this year.
The IShares MSCI Emerging Markets Index exchange-traded fund, the most-traded ETF tracking developing-nation shares, added 1.5 percent to $37.84 today.
China, Thailand
The Chicago Board Options Exchange Emerging Markets ETF Volatility Index, a measure of options prices on the fund and expectations of price swings, fell 8.3 percent to 34.31.
The Shanghai Composite Index rose 0.2 percent, while South Korea's Kospi Index added 0.9 percent. The Hang Seng China Enterprises Index was little changed.
Tencent Holdings Ltd., China's biggest Internet company by revenue in which Naspers owns a 35 percent stake, fell 3.4 percent in Hong Kong after Facebook Inc.'s shares stayed near their initial public offering price on May 18.
Thailand's economy unexpectedly expanded in the first quarter, the National Economic and Social Development Board said today.