Emerging-market stocks gain 20.28% as South Korea and Taiwan lead
Business
Emerging-market stocks have had a standout year, rising 20.28% and beating the S&P 500's 12.07% gain.
The big winners? South Korea and Taiwan, whose dominance in AI-related semiconductors powered this surge.
Chipmakers lift MSCI EM, India slips
Taiwan and South Korea led the pack, holding nearly half the MSCI EM index weight together. Major chipmakers like TSMC, Samsung Electronics, and SK Hynix were key to their success.
Meanwhile, India struggled: its share in the index dropped from almost 21% to just 11.66%, weighed down by a weaker rupee, high valuations, slow earnings growth, and elevated crude oil prices.
Unlike its East Asian peers riding the AI wave, India faced tough economic headwinds this year.