Emerging Stocks Fall to Six-Month Low With Russian Shares
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Emerging stocks fell to a six-month low after briefly extending their decline from a September high to 10 percent as lower oil prices weighed on Russia. Indonesian shares slumped on concern a new parliamentary speaker will hurt President-elect Joko Widodo’s growth plans.
OAO Gazprom, the world’s biggest natural gas producer, led the Micex Index to a seven-week low as Brent crude sank to the weakest close since June 2012. The Jakarta Composite Index tumbled 2.7 percent, with PT Astra International sliding 5.7 percent. Argentina’s Merval stock index plummeted after the resignation of the central bank’s head. The Ibovespa rose after plunging 7.6 percent in the past three days.