(Bloomberg) -- Emerging-market stocks rise, tracking gains in global markets as trade talks between the US and Japan showed some progress.

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MSCI Inc.’s index for developing-nation equities added 0.7%. The index is up 2.1% so far this week, on track for the best performance in a month. In currencies, the MSCI gauge was up as much as 0.2%.

President Donald Trump said negotiators made “big progress” in trade talks with Japanese representatives seeking exemptions from the levies slapped on US trading partners. “A Great Honor to have just met with the Japanese Delegation on Trade. Big Progress!” Trump posted Wednesday on his social media site following the meeting.

Turkey is set for a tricky interest-rate decision later today, following last month’s arrest of President Recep Tayyip Erdogan’s biggest rival and the onset of a global trade war. A majority of economists expect policymakers to hold the main rate at 42.5%. Some predict a hike or an increase in the upper bound of the interest-rate corridor to tighten financing conditions.

“It will be interesting to observe whether CBT management express the appropriate caution in its wording today, or sound complacent that the situation is already well under control,” Commerzbank FX analyst Tatha Ghose wrote in a report, adding that large interventions in the foreign currency markets are “obviously not sustainable.”

There is also rate decision in Egypt. The central bank is poised to cut interest rates for the first time in almost five years, with expectations for a cut varying between 75 and 225 basis points, a sign of the unpredictability wrought by US tariff plans.

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