(Bloomberg) -- Emerging-market stocks snapped a two-day advance as Chinese shares tumbled to a 13-month low on concern outflows will accelerate as the economy slows. Meanwhile, Russia's ruble swung between gains and losses.

The Shanghai Composite Index slid more than 6% after data showed outflows from China reached a record $1 trillion last year, more than seven times higher than in 2014. Russia's ruble erased losses as oil rebounded while South Korea's won and Brazil's real weakened. The premium investors demand to own developing-nation debt rather than U.S. Treasuries rose for a second day.

Register or login for access to this item and much more

All Bank Investment Consultant content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access