Emerging-Market Stocks Rise as Alibaba, TSMC Join AI Hot Streak
Expectations of a thaw in US-China relations during President Donald Trump’s summit with Xi Jinping backed demand for AI-related companies.
Photographer: Qilai Shen/BloombergEmerging-market stocks advanced for the third day this week as technology companies in Taiwan and China joined a hot streak by South Korean peers, buoyed by optimism that talks between the US and China will improve trade ties and boost demand for artificial intelligence-related hardware and services.
The benchmark MSCI EM equity index rose 0.7%, extending this month’s gains to more than 7%. Taiwan Semiconductor Manufacturing Co. Ltd., Alibaba Group Holding Ltd. and Samsung Electronics Co. Ltd. contributed 105% of the gauge’s gains, meaning it would be trading lower but for those three stocks.