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By Bloomberg

Emerging-market stocks fell as industrial shares tumbled and gold’s slump to a five-year low dragged down producers of the precious metal. South Africa’s rand led declines for developing-nation currencies.

Samsung C&T Corp. dropped 3.1 percent in Seoul to lead industrial companies lower. Gold producer Zijin Mining Group Co. tumbled 7.6 percent in Hong Kong and Korea Zinc Inc., which makes gold and silver, retreated 3.9 percent. Semirara Mining & Power Corp. plunged 12 percent in Manila after a coal-mine accident. The rand and South Korea’s won weakened at least 0.5 percent versus the dollar.

The MSCI Emerging Markets Index lost 0.5 percent to 936.85 at 1:25 p.m. in Hong Kong. Precious metals have fallen amid prospects for higher U.S. interest rates and after China said it held less metal in reserves than some analysts expected. A Bloomberg gauge of commodity prices sank to a 13-year low. Greek banks will re-open Monday after a three-week shutdown.

“Gold and other precious metals may continue their slide on expectations about the U.S. interest rate outlook,” Vattana Vongseenin, the chief executive officer of Phillip Asset Management Co. in Bangkok, said by phone. “Any increase in the U.S. rates should further strengthen the dollar and prompt more fund outflows from commodity, metals and emerging markets’ assets.”

Rate Prospects

Gold has fallen out of favor with investors as Federal Reserve Chair Janet Yellen prepares to raise rates this year, boosting the dollar. While China updated its bullion reserves on Friday for the first time since 2009, the 57 percent increase to 1,658 metric tons was smaller than had been estimated.

The developing-nation measure has lost 2 percent this year and trades at 11.5 times projected 12-month earnings, data compiled by Bloomberg show. The MSCI World Index has risen 4.1 percent in 2015 and is valued at a multiple of 16.6.

All 10 industry groups in the emerging markets index fell, led by industrial and raw-material shares. Samsung C&T headed for the steepest two-day slide since October 2011. Zijin Mining dropped 6.7 percent and Korea Zinc tumbled toward the lowest close in six weeks. Bullion for immediate delivery tumbled as much as 4.2 percent, the lowest price since March 2010.

Semirara Mining was poised for the steepest decline since September 2011 after six people died in an accident at its coal mine in the Philippine province of Antique. The Philippine Stock Exchange Index dropped 0.9 percent.

China’s Shanghai Composite Index swung between gains and losses in volatile trading after briefly surpassing the 4,000- point level and a fifth of the market remained frozen. Hong Kong’s Hang Seng China Enterprises Index declined 1 percent.

Vietnam’s VN Index lost 1.5 percent, while equity gauges in Taiwan and Thailand fell at least 0.6 percent. The rand halted a two-day gain and the won was poised for the weakest level since June 2013.