Tech giants lift emerging markets this week, MSCI up 2.9%
Emerging-market stocks soared to a new all-time high this week, mostly thanks to big wins from tech giants like Alphabet, Apple, and Amazon.
South Korea led the rally, and overall, the MSCI Emerging Markets Index jumped 2.9%.
Even developing-world currencies got a small boost as the dollar slipped.
Tech earnings and easing tensions
A mix of strong tech earnings and easing global tensions helped push things higher.
As Vivek Rajpal from JB Drax Honore put it, Markets are really leaning into tech momentum right now.
Taiwan's stock market opened strong, Chinese EV makers impressed with solid sales numbers, and Asia-Pacific dollar bonds had their best April in five years.
Plus, after President Trump announced plans to protect shipping routes near the Strait of Hormuz, investors felt even more confident about energy supplies staying steady.