Asian emerging-market equities posted their largest single-day gain in over 17
years on Friday, led by rallies in South Korea and Taiwan and easing concern
about AI-related spending. The MSCI Asia emerging-markets index rose about 7%
and the Asia EM technology index climbed more than 13%, both their biggest daily
gains since late October 2008; they remain down roughly 5% and 14%
month-to-date. Strong results and guidance from Microsoft and Amazon helped calm
investor worries over hefty AI capex, with Nomura saying Microsoft’s
outlook—continued capex growth but positive free cash flow by fiscal 2027—could
relieve pressure on AI infrastructure stocks.
