Stocks and currencies in developing economies extended their rally as investors turned their focus to the pace of US monetary easing beyond the rate cut that policymakers are widely expected to deliver on Wednesday.
MSCI’s equity index for emerging markets advanced 0.5%, heading for a ninth day of gains in the longest winning streak since February 2024. Chinese technology companies were the main drivers on optimism over domestic artificial-intelligence opportunities, outweighing losses in the shares of Taiwan’s and South Korea’s chipmakers.