Major exchange-traded funds that track emerging market stocks rose to multi-year highs on Monday, extending a rally that has made them among the strongest regions in the equity market this year. The iShares MSCI Emerging Markets ETF rose 0.8% to $45.95, its highest level since mid-2011, according to FactSet data. The day’s rise took the ETF past a high that has stood since 2014. Among its biggest components, Alibaba Group Holding rose 1.4% while Baidu Inc. was up 0.8%. Separately, the Vanguard FTSE Emerging Markets ETF rose 0.5% on Monday, hitting its highest level since 2014. The iShares fund is up 31.2% thus far this year, while the Vanguard ETF, which tracks a different index, is up 26.5%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News