MSCI Emerging Markets Index Hits Two-Month High Driven by Tech Stocks

The MSCI Emerging Markets Index rose by 1.4% on Monday, reaching its highest level since June 26, as optimism surrounding new AI models boosted heavyweight technology stocks. The rally in the tech sector helped offset negative sentiment caused by rising oil prices following tanker attacks in the Strait of Hormuz and concerns over potential Federal Reserve interest rate hikes after strong U.S. non-farm payroll data. Notably, the South Korean KOSPI index surged 4%, and the emerging market currency index also saw a slight gain.