Emerging Stocks Climb to Highest Since October on Tariff Deal

The benchmark emerging-market stock index rallied to its highest level since October as news that China and the US had agreed to a temporary cut in tariffs boosted risky assets globally.

The MSCI gauge for emerging stocks rose 2.1% on Monday, hitting its highest value since October 7, with gains led by by equities in Hong Kong and South Korea including Tencent Holdings Ltd., Alibaba Group Holding Ltd. and Samsung Electronics Co. Ltd. The rally came after the US and China agreed to lower mutual trade levies for 90 days.