Emerging-market equities rose on Monday, with optimism around a new generation of AI models lifting heavyweight technology shares and helping offset pressure from higher oil prices. The MSCI Emerging Markets Index climbed as much as 1.4%, reaching its highest level since June 26. South Korea’s KOSPI surged 4%, while the emerging-market currency index added 0.1% after posting gains in 12 of the previous 13 trading sessions. Tech was the best-performing segment within the broader emerging-markets equity gauge, tracking Friday’s rally in U.S. chip stocks. At the same time, rising oil prices following reciprocal attacks on tankers by the U.S. and Iran in the Strait of Hormuz, along with strong U.S. nonfarm payrolls data that increased bets on a near-term Federal Reserve rate hike, weighed on most other industry sub-indexes.
Emerging-market stocks moved higher on Monday as optimism over a new generation of AI models boosted heavyweight technology shares, helping offset a drag on sentiment from higher oil prices.
The MSCI Emerging Markets Index rose as much as 1.4%, reaching its highest level since June 26. South Korea’s KOSPI jumped 4%. The emerging-market currency index added 0.1% after rising in 12 of the previous 13 trading sessions.
Technology was the best-performing segment in the MSCI emerging-markets equity gauge, following Friday’s gains in U.S. chip stocks. At the same time, oil prices rose after the U.S. and Iran attacked tankers in the Strait of Hormuz, while strong U.S. nonfarm payrolls data increased market bets that the Federal Reserve could raise rates soon. Most other industry sub-indexes declined.
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