Stocks rose in the U.S. and emerging markets and currencies from South Korea’s won to Malaysia’s ringgit strengthened as Chinese exports improved. Japanese shares gained and the yen weakened after Tokyo was selected to host the 2020 Olympics.
The Standard & Poor’s 500 Index (SPX) added 0.5 percent to 1,663.08 and the MSCI Emerging Markets Index climbed 1.7 percent at 10:58 a.m. in New York. The Shanghai Composite Index surged 3.4 percent while the won gained 0.9 percent against the dollar and the ringgit advanced 0.9 percent. Japan’s currency slid 0.5 percent against the dollar while the Topix Index (TPX) jumped 2.2 percent. Treasuries rose, pushing the 10-year yield four basis points lower to 2.89 percent.