KUALA LUMPUR, Aug 30 — Emerging-market stocks rose, paring a monthly loss, as prospects for an imminent strike against Syria diminished. The Malaysian ringgit strengthened, while the rupee weakened.

PT Global Mediacom jumped 13 per cent, leading a gain by Indonesian equities, after saying it plans to buy back shares. Samsung Electronics Co. advanced for a sixth day, the longest winning streak since May 2012. Genting Bhd. climbed the most in two months in Kuala Lumpur after saying it will pay a special cash dividend. China

Petroleum & Chemical Corp. slid 1 per cent in Hong Kong after its parent agreed to buy Egyptian assets for US$3.1 billion.

The MSCI Emerging Markets Index advanced 0.4 per cent to 924.69 as of 1:42pm in Singapore, paring its monthly drop to 2.4 per cent. Investors have withdrawn about US$44 billion from emerging-market stock and bond funds from the end of May through last week as economic growth cooled and speculation increased that the US

Federal Reserve will reduce stimulus as soon as next month, according to data provider EPFR Global. Crude oil extended a decline from a two-year high after UK Prime Minister David Cameron failed to gain parliamentary backing for military action in Syria.

“Emerging Asian markets have gone through the wringer on concerns about the Fed removing stimulus and the unexpected escalation of tensions with Syria,” Kelly Teoh, a market strategist at IG Asia Pte Ltd., said in an e-mail today. “History would suggest recovery might not be too far away.”

Monthly declines

The Jakarta Composite Index added 0.9 per cent. The gauge has tumbled 10 per cent this month, the most among global benchmark gauges tracked by Bloomberg. Thailand’s SET Index is the second-worst performer in August, dropping 9.5 per cent. The measure retreated 0.5 per cent today.

Global Mediacom headed for its biggest gain since December 2010. Genting advanced 3.3 per cent. The special dividend is the company’s first since 2007, according to data compiled by Bloomberg.

The ringgit rose 0.7 per cent to 3.2905 per dollar. Kumpulan Wang Persaraan (Diperbadankan), Malaysia’s second-biggest pension fund, said it has been a net buyer of the country’s stocks and bonds as foreign investors cut their holdings in Southeast Asia.

India’s S&P BSE Sensex rose for a third day, gaining 1 per cent. Data today may show India’s economy slowed in the three months ended June after the central bank said this week it will sell dollars to oil importers to support the rupee. The currency retreated 0.4 per cent versus the dollar, after surging 3.3 per cent yesterday. The currency has lost 18 per cent in 2013.

The rupiah strengthened 0.1 per cent versus the dollar. Bank Indonesia increased its benchmark reference rate to 7 per cent from 6.5 per cent after a meeting yesterday that came before its scheduled policy review. The central bank also raised the deposit facility rate by half a percentage point to 5.25 per cent.

Free trade

Tianjin Port Co. and Wuhu Port Storage & Transportation Co. jumped by the 10 per cent daily limit in Shanghai, leading gains by Chinese marine and trading companies on speculation the government will allow free-trade zones in some cities. The Shanghai Composite Index rose 0.7 per cent, taking its August advance to 6 per cent, the biggest gain this year.

China Petroleum, also known as Sinopec, slid to a three- week low. China Petrochemical Corp., Asia’s largest refiner, agreed to buy a 33 per cent stake in Apache Corp.’s Egyptian oil and gas business, marking the state-owned company’s biggest purchase in the Middle East. — Bloomberg