MSCI Emerging Markets Stock Index Hits Two-Month High, Tech Stocks Perform Best

On September 7, emerging market stocks rose as optimism surrounding the new generation of AI models boosted tech stocks, offsetting the negative impact of rising oil prices. The MSCI Emerging Markets Stock Index climbed 1.4%, reaching its highest level since June 26. The South Korean KOSPI index surged by 4%. The emerging market currency index increased by 0.1%, having recorded gains on 12 out of the last 13 trading days. The technology sector performed the best within the emerging markets stock index, influenced by the rally in U.S. chip stocks last Friday. Meanwhile, mutual attacks on tankers in the Strait of Hormuz between the U.S. and Iran led to an increase in oil prices, and strong U.S. non-farm payroll data heightened expectations for a potential interest rate hike by the Federal Reserve, causing most other sector indices to decline.

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