EM Shares Rally for Sixth Day as Asian Tech Stocks Extend Gains
A worker moves bundles of South Korean 50,000 won banknotes at the Bank of Korea (BOK) headquarters in Seoul.
Photographer: SeongJoon Cho/BloombergEmerging-market stocks and currencies reached fresh record highs on Wednesday as Asian technology shares surged and a weaker dollar provided further support for developing-world assets.
Most emerging market currencies appreciated against the dollar, with the MSCI’s EM Currency Index rising 0.4%, extending its gains for a fourth sessions. Emerging-market stocks, meanwhile, climbed 1.5% on an overall positive day for risk assets, bringing total year-to-date gains to about 15%.