(Bloomberg) -- A four-day rally pushed the Morgan Stanley Capital International benchmark index for emerging market stocks above 1000 for the first time, helped by speculation that earnings growth in Brazil, China, Russia and India will benefit from higher domestic spending.
The Morgan Stanley Capital International index of emerging market shares rose 0.7 percent to 1002.42 at 8:50 a.m. in New York. The measure surged 19 percent since March 5, when the worst weekly emerging market sell-off in eight months ended, and is 6.2 percent above its highest level before the rout.
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