(Bloomberg) -- Emerging-market stocks and currencies climbed to their highest levels in a year as reduced bets for U.S. interest-rate increases and prospects for more stimulus in Asia spurred demand for higher-yielding assets.

Chinese shares in Hong Kong rallied after a private manufacturing index unexpectedly rose to the highest level since February 2015. Turkish equities gained for a fourth day, having recovered almost half of the losses following a failed coup and government crackdown. Malaysia’s ringgit and South Korea’s won led gains in currencies. Investors added more than $2 billion to ETFs that buy emerging-market stocks and bonds last week.

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