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

Odaily news: 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 Index rose as much as 1.4% to its highest level since June 26. South Korea's KOSPI index surged 4%. The emerging market currency index gained 0.1%, following gains in 12 of the previous 13 trading sessions.

The technology sector followed last Friday's rally in U.S. chip stocks and was the best performer on the emerging market index. Meanwhile, oil prices rose after 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 soon raise interest rates, with most other sector sub-indices declining. (Jin Shi)