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Breaking

Emerging-market ETFs on track for biggest weekly gain since 2016

Exchange-traded funds that track emerging-market equities rallied on Thursday, extending their recent gains and putting them on track for their best weekly performance in more than a year. The iShares MSCI Emerging Markets ETF rose 1.6% on Thursday, putting it on track for its fifth straight daily gain and bringing its weekly advance to 6.5%. That represents its biggest one-week percentage rise since March 2016. Separately, the Vanguard FTSE Emerging Markets ETF rose 1.5% on Thursday, also set to extend its daily streak of gains to five. The fund is up 5.9% thus far this week, which is set to be its biggest one-week percentage gain since a week ending July 2016. If the ETF ends higher on the week, that will mark its ninth weekly advance of the past 11 weeks. The funds were supported by large-capitalization technology companies, many of which represent some of the largest components of the emerging-market ETFs. Baidu Inc. rallied 3.9%, bringing its week-to-date advance to 13.7%, while Sina Corp. was up 2.5%. It is up 15.5% on the week. Also on Thursday, the Dow Jones Industrial Average rose 0.6% while the S&P 500 was up 0.5% and the Nasdaq Composite Index was up 0.8%.

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