(Bloomberg) -- The iShares MSCI Emerging Markets Index exchange-traded fund advanced for the second time in three days after a better-than-estimated U.S. retail sales report bolstered optimism about global economic growth.

The developing-nation ETF increased 1.1% to $40.22 at 4 p.m. in New York. The MSCI Emerging Markets Index declined 0.2% to 975.28. The Shanghai Composite Index rebounded from a five-month low after the Chinese benchmark gauge reached the cheapest valuation levels on record. Oi SA led a rally in Brazilian telecommunications companies. Thailand’s baht posted the biggest advance in almost three months, while Russia’s ruble tumbled to the lowest level in five years.

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