Emerging Stocks Set to Close at Record High on Tech Bets

Emerging-market equities rose on AI trades as investors brushed off concerns over stalled peace talks between the US and Iran.

A gauge for developing nations’ stocks advanced as much as 1.4% on Monday, led by SK Hynix Inc., Samsung Electronics Co. and MediaTek Inc., and was set to close at a record high. The South Korean equity index rallied 5% to a record as investors piled into semiconductor heavyweights amid concerns over a memory chip shortfall.