(Bloomberg) -- Emerging-market stocks advanced, led by the biggest rally in Turkey’s benchmark index in more than three months, amid speculation political tension in the country may ease. The lira strengthened, while Russia’s ruble declined.
Turkish stocks climbed 4.2 percent, rebounding from a 14 percent tumble the previous two weeks spurred by a corruption probe embroiling Turkish Prime Minister Recep Tayyip Erdogan’s government. The lira rose 0.8 percent as the central bank said it will sell at least $600 million. The ruble weakened 0.6 percent after suicide bombers killed at least 30 in the southern city of Volgograd and as a seasonal transfer of state budget funds to commercial banks raised the supply of local currency.