A deepening selloff in AI-linked shares pushed the MSCI emerging-market equity index down more than 2%, hitting a two-month low. South Korea’s Kospi fell for a fifth day, led by SK Hynix and Samsung Electronics, while TSMC also declined. The rout was fueled by concerns over high financing costs for AI investments and a report of potential competition from China’s CXMT, which is advancing a new memory architecture.
Yves Bonzon of Julius Baer noted persistent uncertainty about profit pools and valuations, warning of continued volatility. The selloff also pressured the South Korean won and Taiwanese dollar, dragging the MSCI emerging-market currency index down 0.2%. Meanwhile, the Indian rupee gained 1.5% as the central bank tightened derivative rules.
Romania’s bonds weakened after inflation accelerated, raising yields to 7.24%.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing