BANGKOK _ Emerging-market currencies climbed for the first time in three days, led by Mexico's peso, and stocks gained after the first of three televised U.S. presidential debates.
The peso jumped the most in two months, rebounding from a record low, a sign investors may perceive Hillary Clinton is outperforming Donald Trump in the debate. South Korea's won and South Africa's rand also reversed declines to strengthen and Turkey's lira halted two days of depreciation.
Hong Kong's Hang Seng China Enterprises Index paced gains in developing-nation equities, while stock gauges in Indonesia, Malaysia and the Philippines slid. Taiwan's financial markets are shut Tuesday as Typhoon Megi brought wind and rain across the island.
Clinton and Trump held their first presidential debate, clashing sharply over trade, the U.S. economy and race relations. Citigroup Inc. has said an election victory for Republican candidate Trump could sink equities and warned this week it may also spur volatility in both gold and currency markets.
"The market was risk-off prior to the debate, but it has turned risk-on now," said Ha Jun Woo, a currency trader at Daegu Bank in Seoul. "There is the sense that Hillary Clinton is performing better in the debate _ she certainly is more eloquent."
The MSCI Emerging Markets Currency Index climbed 0.2 percent at 11:20 a.m. local time in Hong Kong. The Mexican peso, which had borne the brunt of investor anxiety about the November U.S. election, surged 1.6 percent, halting a two-day loss.
The MSCI Emerging Markets Index advanced 0.3 percent as seven out of 11 industry groups increased, led by materials and consumer-discretionary companies.
