emerging market stocks fluctuated as increased confidence in the strength of U.S. recovery

The emerging market stocks fluctuated as increased confidence in the strength of U.S. recovery was offset by concern that China's tightening measures to slow growth in the third largest economy in the world.

Hon Hai Precision Industry Co., which makes computers Apple Inc. iPhones and Hewlett-Packard Co., rose 1.7 percent after a government report showed the U.S. economy expanded faster than expected. China Vanke Co. dropped 1.8 percent in the southern city of Shenzhen of China as an indicator of lending rates rose to its highest level in more than three years.

The MSCI Emerging Markets Index has changed slightly to 1,126.37 as of 21:49 London time, after gaining 0.2 percent and falling 0.1 percent. Taiwan's TAIEX index rose 0.4 percent, the highest since May 2008. The Philippine Stock Exchange index rose 1.3 percent to a maximum of two weeks. The Shanghai Composite Index, in the worst benchmark Asia to carry out this year, sank 0.8 percent.

"Uncertainty about the controls is the decision of the market," said Deng Changrong, strategist at Huaxi Securities Co. in Shenzhen. "As the market lacks liquidity at the moment, there is no support for a strong recovery."

Stocks in emerging Europe and Africa fluctuated, with the Czech PX gauge up 0.2 percent, BUX for Hungary and Poland's WIG20 fell 0.2 percent and the benchmark index in South Africa has changed little.

Air Pact

Hon Hai Precision, which gets about 36 percent of U.S. sales rose to a maximum of two months in Taipei. Catcher Technology Co., a manufacturer of notebook covers, rose 6.7 percent.

One indicator of population monitoring of information technology increased more among the 10 industry groups in the MSCI index of developing nations.

In Kuala Lumpur, Malaysia Airline System Bhd, the national airline, rose 5.4 percent, gaining for a second day of the signing of an agreement with the Dutch Air France-KLM KLM unit to promote cooperation close.

Alliance Global Group Inc., owner of the largest casino in the Philippines and the local franchise of McDonald's, rose 6.3 percent, the second largest gain in today MSCI Emerging Markets Index. The company said it will buy 60 percent of Fil-Estate Land Inc. for 5 million pesos ($ 113 million) to expand its business related to tourism. Fil-Estate rose 26 percent, its biggest gain since March 1.

China Vanke, the nation's largest developer, retreated 1.8 percent. CINDA Real Estate Co. lost 1.7 percent.

China's benchmark rate money market rose to a maximum of three years as banks hoard cash before the New Year holiday. The interest rate for seven days increased 150 basis points to 5.67 percent, according to a daily fixing published by the National Interbank Funding Center. Policy makers on December 10 ordered lenders to park more money with the central bank for the third time in five weeks to curb inflation.