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(Bloomberg) — Most emerging-market stocks rose as Chinese property companies rallied and Indian stocks rebounded from a three-month low. The Ibovespa jumped to the highest since October as Brazilian commodity producers rallied.

Evergrande Real Estate Group climbed to a record in Hong Kong, pacing property companies amid signs China’s real-estate industry is stabilizing. Maruti Suzuki India Ltd. rose after posting a 27 percent gain in dispatches. Saudi Arabian stocks traded near a six-month high as investors awaited details of the opening of the nation’s stock market to foreigners.

The MSCI Emerging Markets Index rose 0.1 percent to 1,047.16 at 12:04 p.m. in New York 431 stocks rising and 276 declining. China’s final Purchasing Managers’ Index for April was at 48.9, trailing estimates, HSBC Holdings Plc and Markit Economics said Monday. Readings below 50 indicate a contraction. The data underscore forecasts for policy makers to step up stimulus to shore up economic growth.
“Investors have been so worried about China’s housing market, but now there are the first signs of a recovery,” Hertta Alava, the head of emerging markets at FIM Asset Management Ltd. in Helsinki, said by e-mail on Monday.
The Ibovespa rallied 1.8 percent in Sao Paulo. Vale SA, the world’s largest iron-ore producer, jumped 6.1 percent to the highest since February, leading gains in Brazilian commodity exporters. The real depreciated 2 percent against the dollar after the central bank eased support for the currency.
A gauge of the 20 most-traded emerging currencies fell for a third day, retreating 0.4 percent. Turkey’s lira weakened for a fourth day, depreciating 0.2 percent after a report showed consumer price inflation accelerated more than estimated in April.

Polish Exports

Poland’s zloty rose from a one-month low, climbing 1 percent against the euro as a March purchasing managers’ index by HSBC and Markit Economics showed exports grew at the fastest pace in 13 months.
The developing-markets stock gauge, which posted its biggest monthly gain in more than three years in April, has risen 9.5 percent this year and trades at 12.5 times its projected 12-month earnings. The MSCI World Index of developed- nation companies added 4.8 percent in 2015 and is valued at 16.9 times.
Eight out of 10 industry measures in the MSCI Emerging Markets Index gained Monday, led by materials companies.
The Tadawul All Share Index climbed 0.2 percent in Riyadh after reaching the highest level since Nov. 3 on Thursday. Saudi Arabia restricted foreign ownership of a single stock to 49 percent, and will allow institutional investors with a minimum of 18.75 billion riyals ($5 billion) under management to invest directly in the stock market, according to the regulations published on its website on Monday, confirming rules set in August. They go into effect next month.

China Rally

Evergrande surged 7.5 percent in Hong Kong, extending its record rally, while Guangzhou R&F Properties Co. jumped 5.2 percent. The Shanghai property index advanced to an all-time high as Soufun Holdings Ltd. data showed home prices climbed in Beijing and Shanghai.
The Shanghai Composite Index added 0.9 percent, while the Hang Seng China Enterprises Index of mainland companies listed in Hong Kong increased 0.2 percent. India’s Sensex index climbed 1.8 percent. The premium investors demand to own emerging-market debt over U.S. Treasuries narrowed three basis points to 331 basis points, according to JPMorgan Chase & Co. indexes.

To contact the reporters on this story: Harry Suhartono in Jakarta at hsuhartono@bloomberg.net; Natasha Doff in London at ndoff@bloomberg.net To contact the editors responsible for this story: Richard Frost at rfrost4@bloomberg.net; Stephen Kirkland at skirkland@bloomberg.net Phani Varahabhotla, Richard Richtmyer