Emerging market stocks rallied on Thursday with the dollar taking a hit on growing bets of an imminent end to the U.S. rate-hiking cycle, while Pakistan dollar bonds jumped after the International Monetary Fund cleared a $3 billion bailout.
Most emerging markets' currencies and stocks gained on Wednesday against a weak dollar, with traders awaiting a crucial U.S. inflation reading to determine whether the Federal reserve is at the end of its rate hike cycle.
U.S. Treasury Secretary Janet Yellen went to Beijing with no expectations that meetings with China's new top economic officials would immediately ease tensions between the world's two largest economies.
German Gref, CEO of Russia's dominant lender Sberbank, on Thursday said the rouble was not at an optimal level and needed to strengthen, the RIA news agency cited him as saying.