MSCI emerging-market index jumps 14.5% as AI fuels Asian tech
Business
Emerging-market stocks soared last month, with the MSCI index jumping 14.5%, the biggest monthly surge since 2022.
The main driver? Huge demand for AI and a rally in Asian tech shares.
Even with worries about oil supplies due to U.S.-Iran tensions, analysts have boosted profit forecasts for emerging-market companies by 30% this year, way outpacing the S&P 500.
JPMorgan prefers Latin-American and Eastern-European currencies
Despite the big gains, emerging-market stocks dipped 1.1% on Thursday as oil prices stayed high and conflict fears lingered.
JPMorgan has also shifted its strategy, now preferring currencies from places like Latin America and Eastern Europe over Asia because of stagflation risks and shaky valuations, especially as Asian oil-importing currencies took a hit.