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By Bloomberg

Emerging-market stocks rose for a third day as China pumped funds into the financial system and investors speculated that the European Central Bank will expand stimulus. Russia’s ruble weakened for a third day.

Bank of China Ltd. climbed to a one-week high to lead advances in Hong Kong-traded mainland shares. Russia’s Micex Index headed for a 2011 high, paced by gains in OAO Lukoil. Thai stocks climbed 1.1 percent and PT Gudang Garam spurred Indonesian equities to a record high. Malaysia’s ringgit climbed for the first time in five days versus the dollar, while the ruble and South Africa’s rand lost 0.3 percent.

The MSCI Emerging Markets Index added 0.2 percent to 977.66 at 8:40 a.m in London. ECB President Mario Draghi proposes spending 50 billion euros ($58 billion) a month through December 2016, two euro-area central-bank officials said before a meeting today. China’s monetary authority used open-market operations to add cash to the financial system for the first time in a year and boosted loans amid a seasonal fund shortage.

“The market is reacting positively to China’s liquidity news and speculation that the ECB will undertake more stimulus,” Gavin Parry, managing director of Parry International Trading Ltd., said in Hong Kong.

The developing-nation gauge has gained 2.2 percent this year and trades at 11.5 times projected 12-month earnings, data compiled by Bloomberg show. The MSCI World Index has fallen 0.9 percent and is valued at a multiple of 15.6.

Industry Groups

Seven out of 10 industry groups in the emerging-markets measure climbed, led by energy and health-care stocks. The Shanghai Composite Index added 0.6 percent and the Hang Seng China Enterprises Index advanced 0.2 percent.

Bank of China and PetroChina Co. rose at least 1.4 percent. The People’s Bank of China conducted its first reverse- repurchase operation in a year, adding money to the financial system a day after saying it rolled over a 269.5 billion yuan ($43.4 billion) lending facility to banks.

China will avoid a hard landing and is focused on ensuring long-term medium-to-fast growth, Premier Li Keqiang told global leaders in Davos on Wednesday.

Want Want China Holdings Ltd., which makes snack foods, sank 6.5 percent in Hong Kong after Nomura Holdings Inc. downgraded the stock.

The Micex added 1.6 percent, poised for the highest close since August 2011, paced by a 1.5 percent increase in Lukoil. Equity gauges in Dubai, South Africa and Vietnam climbed at least 1 percent. Thai shares headed for the highest close since Dec. 9. The Jakarta Composite Index climbed 0.9 percent as Gudang Garam rallied 5.9 percent, the most since October 2013.

India’s S&P BSE Sensex rose 0.2 percent, its sixth day of gains. Hyundai Motor Co. slid 2 percent in Seoul after profits at South Korea’s largest carmaker trailed estimates.

JG Summit Holdings Inc. plunged 11 percent in Manila after a share sale, dragging Philippine shares by the most in a month.

The ringgit added 0.4 percent, while South Korea’s won weakened for a third day in four.