2015.01.2202:11:05UTC+00Emerging stocks reach six-week high on Chinese advance

Emerging-market stocks reached its highest in six weeks as it tracked Chinese stocks movement amid bets of an ECB stimulus.

The MSCI Emerging Markets Index added 2% to 976.07. It is the highest level for the benchmark index since December 8 of last year. All of the index’s ten industry groups advanced. The Shanghai Composite Index added its biggest two-day rally in six years.

Tencent Holdings Ltd. jumped by 3.7% while China Mobile Ltd. reached its strongest level since 2009.

 The European Central Bank will meet later today. Market participants are betting that the central bank will add stimulus in a bond-purchase program worth 550 billion euro or $639 billion to be announced by ECB head, Mario Draghi.