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By Bloomberg

Emerging-market stocks advanced for a second day as technology shares rallied after Samsung Electronics Co. beat earnings estimates, and crude oil extended gains. Malaysia’s ringgit rebounded from a 5 1/2-year low.

Samsung, the world’s biggest smartphone maker, added 0.5 percent as South Korean shares rose the most in almost three weeks. Taiwan Semiconductor Manufacturing Co. led a 1.7 percent increase in the Taiex Index on bets the government will widen access to the island’s stock market for Chinese investors. Thailand’s PTT Pcl paced advances for energy companies. The ringgit was poised to halt a four-day loss versus the dollar.

The MSCI Emerging Markets Index climbed 0.9 percent to 949.65 at 1:19 p.m. in Hong Kong as a gauge of technology shares surged the most among 10 industry groups. Oil extended a rebound from the lowest level since April 2009 as investors weighed whether crude’s selloff was excessive. U.S. equities rallied yesterday as Federal Reserve minutes confirmed interest rates are unlikely to rise before late April.

“Equities are being bolstered by the U.S. rate outlook and the oil price rebound,” Jitra Amornthum, the head of research at Finansia Syrus Securities Pcl, said by phone. “Attractive valuations of many stocks are also attracting interest from bargain hunters.”

The developing-nation gauge has lost 0.6 percent this year and trades at 11 times projected 12-month earnings, data compiled by Bloomberg show. The MSCI World Index has fallen 2.6 percent and is valued at a multiple of 15.2.

Samsung Earnings

All 10 industry groups in the emerging-markets index gained, as a gauge of technology stocks advanced 1.8 percent. Samsung climbed for a second day. Fourth-quarter operating income was 5.2 trillion won ($4.7 billion), higher than the 4.8 trillion-won average of 36 analyst estimates compiled by Bloomberg. The Kospi Index added 1.1 percent.

Taiwan Semiconductor rose 2.6 percent, as the Taiex surged the most since Oct. 20. Regulators are considering allowing Chinese tourists to open stock trading accounts in Taiwan by the third quarter, the Economic Daily News said, citing Tseng Ming- chung, head of the Financial Supervisory Commission.

PTT, Thailand’s biggest energy stock, jumped 3.6 percent, lifting the SET Index to a two-week high. PetroChina Co. added 1.4 percent in Hong Kong. West Texas Intermediate crude climbed 0.7 percent today, after gaining 1.5 percent yesterday.

The ringgit appreciated 0.3 percent, the most since Dec. 18, as Malaysian stocks halted a six-day slump. The currency has lost 10 percent since June as a plunge in oil raised the prospect of a drop in state revenue for the net oil exporter.

Hong Kong’s Hang Seng China Enterprises Index added 0.3 percent. Beijing Capital International Airport Co. surged 7.7 percent, the most on the MSCI Emerging Markets Index, after JPMorgan Chase & Co. raised its price target by 52 percent.

The Shanghai Composite slid 1.8 percent, halting a four-day gain, amid concern recent rallies were excessive. Equity gauges in India, the Philippines, Vietnam climbed at least 0.7 percent.