Emerging-market stocks gained for a fifth straight week, the longest winning streak since July, while currencies halted a five-week advance amid muddied trade messages. Developing-nation assets rose early in the week as both the U.S. and China said they had agreed to roll back tariffs in phases, but the mood soured on Friday after President Donald Trump said the U.S. hasn’t agreed to do so. (Bloomberg)

The U.S.-China trade war reignited the debate over which developing countries in Asia could take over the mantle of the world’s workshop. The front-runners? India and Indonesia. India tops the export-potential ranking thanks to its vast population. The second up is Indonesia, followed by much-touted Vietnam. (Bloomberg)

The European Central Bank started its second round of corporate bond purchases by purchasing in a week an amount that analysts expected it to buy in a month. The central bank bought almost 2.8 billion euros ($3 billion) of company debt securities in the week to Nov. 8. (Bloomberg)