Emerging-market equities advanced to the strongest level in two weeks mainly due to an increase of China's phone companies as ZTE Corp. and China Mobile Ltd. added at least 1.7% and as Indian central bank reduced its liquidity curbs. The MSCI Emerging Markets Index gained 0.4% to 1,008.84 as of 1:46 p.m. Hong Kong time, however, it has lost 4.5% this year.