Saturday, July 19, 2025
  • Login
Forbes 40under40
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
Forbes 40under40
No Result
View All Result
Home Leadership

Tech rally propels emerging stocks to best week since July

by Riah Marton
in Leadership
Tech rally propels emerging stocks to best week since July
Share on FacebookShare on Twitter


Emerging-market stocks rose on Friday (Apr 26), cementing their biggest weekly advance in nine months, as Asian technology stocks got a boost from US corporate earnings that confirmed booming demand for artificial intelligence.

The MSCI Emerging Markets Index finished the session 1.3 per cent higher, with Taiwan Semiconductor Manufacturing Company, Tencent Holdings and Alibaba Group Holding accounting for the biggest chunk of its gains. The gauge rose 3.7 per cent for the week, trimming monthly losses sparked by reduced expectations for Federal Reserve rate cuts.

While risks from slowing Chinese growth to higher-for-longer rates in the US continue to weigh on emerging markets, the equity outlook has improved on account of a spillover effect from US corporate earnings, led by the technology sector. That helped Asia outperform the other two EM regions – Latin America as well as Europe, Middle East and Africa. Stocks also overshadowed bonds and currencies that were taking their cues from Fed rates pricing.

On Friday, a gauge of developing-nation currencies also edged higher after the US PCE deflator, the Federal Reserve’s favorite gauge of inflation, failed to confirm the market’s worst fears. 

Strong US earnings reports are emboldening analysts to raise their forecasts for profits at emerging-market companies. The average forecast for 12-month earnings among the MSCI gauge’s members has increased to the highest level since September 2022. That increase is also led by Asian tech names.

“We continue to like the EM tech space,” said Alejo Czerwonko, UBS Global Wealth Management’s chief investment officer for Emerging Markets Americas. 

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

“The Q1 24 earnings season has so far beat expectations, especially on the strong revenue and profitability guidance around artificial intelligence,” Czerwonko wrote, citing opportunities in markets such as Taiwan and South Korea.

South African assets rallied after an opinion poll showed higher odds of a market-friendly coalition emerging from national elections. US dollar notes jumped across the curve, while the rand also strengthened. 

At the end of the day, Bolivia’s credit rating was cut further into junk by Moody’s Ratings. The credit assessor said falling foreign-exchange reserves threaten a balance-of-payments crisis for the South American nation. Bloomberg

Tags: EmergingJulypropelsRallyStocksTechWeek
Riah Marton

Riah Marton

I'm Riah Marton, a dynamic journalist for Forbes40under40. I specialize in profiling emerging leaders and innovators, bringing their stories to life with compelling storytelling and keen analysis. I am dedicated to spotlighting tomorrow's influential figures.

Next Post
Is Jurong Island’s carbon test bed too small and conservative? A*Star institute head thinks not

Is Jurong Island’s carbon test bed too small and conservative? A*Star institute head thinks not

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Forbes 40under40 stands as a distinguished platform revered for its commitment to honoring and applauding the remarkable achievements of exceptional individuals who have yet to reach the age of 40. This esteemed initiative serves as a beacon of inspiration, spotlighting trailblazers across various industries and domains, showcasing their innovation, leadership, and impact on a global scale.

 
 
 
 

NEWS

  • Forbes Magazine
  • Technology
  • Innovation
  • Money
  • Leadership
  • Real Estate
  • Lifestyle
Instagram Facebook Youtube

© 2024 Forbes 40under40. All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle

© 2024 Forbes 40under40. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In