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Tech surge drives emerging markets to new highs

Tech surge drives emerging markets to new highs


What's going on?

Fueled by AI enthusiasm, technology stocks rallied globally, helping emerging market shares hit a four-week high.

What does this mean?

The MSCI Emerging Markets Index rose 1.32%, hitting its highest since May 23. The gains were driven in part by a surge in Nvidia shares on encouraging AI prospects and weak U.S. economic data. Tech-heavy markets such as Taiwan, South Korea and Hong Kong saw gains of between 1.2% and 2.9%. South Africa also benefited, with the rand surging to an 11-month high against the dollar and the Johannesburg Stock Exchange's benchmark index rising 1.7% to its highest in more than a year. Investors welcomed the formation of a new unity government that is seen as more business-friendly and with less uncertainty about left-leaning policies.

Why should you care?

For the market: Ride the technology wave.

Emerging market investors are riding a wave of optimism brought on by the tech sector's AI-focused growth. The rise in Nvidia shares has contributed significantly to the rise in global stock markets, especially in tech-centric regions such as Asia. The surge indicates that markets are banking on continued technology innovation and consolidation, which could lead to further gains for these stocks.

The big picture: economic stability and investor confidence.

Emerging markets are exposed to different influences from the global economy. Weak US retail sales have raised expectations of interest rate cuts by the Federal Reserve, further lifting global stock markets. Meanwhile, central bank actions in Hungary, the Czech Republic and Chile highlight divergent monetary policy responses tailored to the economic circumstances of each country. These factors are shaping the investment environment, influencing both the strength of local currencies and investor confidence.




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