Economics
Oil Weighs on Emerging-Market Currencies as Crude Producers Fall
- `Hard landing' for China seems `quite distant now,' FIM says
- Brazilian stocks gain as lawmakers prepare impeachment debate
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Currencies of emerging-market energy producers fell as crude dropped before a summit in Doha to discuss an output freeze. Brazilian stocks rallied after the nation’s top court cleared the way for an impeachment vote on Sunday.
Russia’s ruble and Mexico’s peso dropped as Brent crude prices slid 1.7 percent, reducing a second weekly advance. Gazprom PJSC in Russia and Colombia’s Ecopetrol SA were among oil and gas stocks that declined. South Korea’s won gained after Chinese data signaled the economy is stabilizing. The premium investors demand to own emerging-market debt increased.