(Bloomberg) -- Emerging-market stocks rose for the first time this year after the International Monetary Fund said it will raise its forecast for world growth. South Korea’s won rallied on speculation exporters repatriated overseas income.

Equities briefly erased gains after minutes from the Federal Reserve’s last meeting indicated policy makers see risks to financial stability from continued monthly bond purchases. The MSCI Emerging Markets Index rose 0.2% to 973.17. Egypt’s EGX 30 Index rallied to a three-year high, while Turkish shares sank after JPMorgan Chase & Co.’s downgrade. The won extended a rebound from a two-month low.

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