Emerging market stocks hit highest since US Israel Iran conflict
Emerging-market stocks just hit their highest point since before the recent U.S.-Israel-Iran conflict, mostly fueled by excitement around artificial intelligence and hopes for less global drama.
On April 20, the MSCI Emerging Markets Index climbed 0.9%, with Asian markets like South Korea and Taiwan leading the charge.
Emerging currencies slide on dollar strength
While stocks are riding high, emerging-market currencies are struggling as the US dollar gets stronger and oil prices go up.
The South Korean won dropped 1.5% against the dollar, the biggest slide in the region, while currencies like the Thai baht and Malaysian ringgit also lost ground.
So even though tech optimism is pushing stocks up, currency values are feeling the pressure from rising costs and investors playing it safe.