(Bloomberg) -- The iShares MSCI Emerging Markets Index rose, extending its biggest weekly gain in a month, as speculation China is loosening funding restrictions for property developers and banks bolstered confidence in the economy.

The exchange-traded fund added 1.3 percent to $39.23 at 10:24 a.m. in New York, bringing its advance for the week to 2.2 percent. The MSCI Emerging Markets Index rose 0.5 percent to 945.17. The Shanghai Composite Index climbed the most in four months after reaching record-low valuations, while the yuan posted the biggest weekly drop since at least 2007. The Micex Index led losses among major developing-nation gauges as the U.S. and the European Union expanded sanctions against Russia.

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