TSMC, Alibaba, and Samsung Propel Emerging Market Stock Rally

Odaily News Emerging market stocks rose for a third consecutive day this week, with technology companies extending their strong rally, supported by market optimism over rising demand for AI-related hardware and services. The benchmark MSCI Emerging Markets Index rose 0.7%, bringing its monthly gains to over 7%. Among them, three stocks—TSMC, Alibaba, and Samsung Electronics—collectively contributed 105% of the index's gains, meaning that without the pull from these three stocks, the index would have actually been in negative territory overall. Chipmakers have been leading the market rebound since early April, with upward earnings revisions largely offsetting inflation concerns sparked by the Iran conflict. While the information technology sector rose 1.4% on Thursday, sectors such as utilities, energy, and industrials declined, highlighting a clear divergence between Asian tech stocks and other emerging market industries. (Jin Shi)