Berkshire Hathaway Class B shares advanced as a rebounding U.S. economy boosted the value of Berkshire’s stock portfolio and helped propel growth at the dozens of companies that Buffett, 83, acquired during his four-decade tenure as chairman and chief executive officer.
The MSCI Emerging Markets Index added 0.7%, advancing for the first time in four days. Chinese stocks rose amid speculation the government is accelerating its reform of state-owned enterprises.
The Shanghai Composite Index jumped 1.7% to the highest level since Dec. 10, while the Hang Seng China Enterprises Index of mainland companies listed in Hong Kong rallied 1%.
China Everbright Ltd. jumped 15% after saying its parent will become a joint-stock company in an ownership revamp of a group with $420 billion of assets from banking and broking to tourism.
The won climbed 0.3% to 1,033.55 per dollar after weakening 1.1% last week, the most since March. The ringgit gained 0.3% to 3.2020 a dollar today. A gauge of 20 emerging-market currencies advanced for the first time in eight days.
The Bloomberg Commodity Index of 22 raw materials rose 0.5% as raw sugar jumped 1.5% after Reuters reported fires at two sugar warehouses in Brazil, the largest producer and exporter of the sweetener. Wheat gained 2.1% on speculation demand will increase for U.S. grain after rain damage to crops in Europe.
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