AI Trade Fuels Emerging-Markets Stock Rally After TSMC Results
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Emerging-market equities rose for the third day after TSMC's upbeat forecast boosted confidence in the technology sector. The MSCI EM equity index climbed over 1% as major tech stocks like Samsung and Tencent gained.
The MSCI EM equity index rose over 1% after Taiwan Semiconductor Manufacturing Co. (TSMC) reported a 58% surge in profit and raised its revenue forecast. This bolstered confidence in the technology sector, driving gains in major stocks such as Samsung Electronics, Alibaba Group, Tencent Holdings, and SK hynix. The rally helped emerging-market equities recover some losses caused by the Iran war. TSMC's results highlighted the resilience of artificial intelligence chip demand despite economic concerns. The gain marked the third consecutive day of rises in emerging-market equities.
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