MSCI’s emerging market equity benchmark rose 2.9% to a record high on Monday, led by Taiwan Semiconductor Manufacturing Co. and South Korean chipmakers Samsung Electronics Co. and SK hynix Inc. [1]
South Korea’s Kospi index also reached an all-time high as the same technology stocks powered the rally. [1]
The gains came as emerging-market currencies gave back earlier advances after signs of renewed escalation between the US and Iran over the Strait of Hormuz. [1]
Markets will stay focused on any further signals from the Strait of Hormuz dispute and on trading in Asian chip stocks, which were central to the latest surge. [1]