MSCI Emerging Markets Stock Index Hits Over Two-Month High, Tech Stocks Lead Gains

On September 7, emerging market stocks rose on Monday, as optimism over a new generation of AI models boosted heavyweight tech stocks, helping offset the drag on sentiment from higher oil prices. The MSCI Emerging Markets Stock Index rose as much as 1.4% to its highest level since June 26. South Korea's KOSPI index surged 4%.

The emerging markets currency index gained 0.1%, following 12 gains in the previous 13 trading days. The tech sector, tracking Friday's rally in U.S. chip stocks, was the best performer in the emerging markets stock index. Meanwhile, oil prices rose as the U.S. and Iran attacked each other's tankers in the Strait of Hormuz, and strong U.S. non-farm payroll data increased bets that the Federal Reserve could raise interest rates soon, with most other sector sub-indices declining. (Jin Shi)

[TechFlow]