Emerging-market stocks jump 1.4% as GPT-6 optimism lifts tech shares

  • Emerging-market stocks rose as GPT-6 expectations boosted Asian technology shares.
  • 1.4% was the MSCI index’s intraday gain, while the Kospi rose more than 3%.
  • The currency index gained 0.1% after advancing in 12 of 13 sessions.

Emerging-market stocks rose on Sept. 7 as OpenAI’s unveiling of GPT-6 drove gains in semiconductor and other technology shares across Asia. The MSCI Emerging Markets Index climbed as much as 1.4%, its highest level since June 26, while South Korea’s Kospi rose more than 3%; an earlier report had put the Kospi gain at 4%. The emerging-market currency index added 0.1%, extending gains to 12 of the past 13 trading sessions. A stronger won, supported by semiconductor stocks and foreign inflows into the Kospi, reached its highest level in about two years. Technology strength helped offset higher international oil prices after the United States and Iran exchanged attacks involving tankers in the Strait of Hormuz, as well as stronger U.S. employment data that increased the prospect of an earlier Federal Reserve rate hike. Currencies in oil-import-dependent economies including Indonesia and the Philippines weakened, while most sectors outside technology declined.

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