Emerging-market equities climbed for a third consecutive session, holding near record territory as falling crude oil prices and a relentless tech rally combined to keep the momentum alive. The MSCI Emerging Markets Index has gained approximately 24-26% year-to-date through mid-June 2026.
Asian tech is running the show
The driving force behind this rally reads like a who’s who of Asian semiconductor giants. Samsung Electronics, TSMC, and SK Hynix have been the engines pulling emerging-market indices upward, riding a wave of artificial intelligence enthusiasm that shows no signs of cresting.
South Korea’s Kospi Index hit record highs in early June 2026, with Samsung Electronics delivering single-session gains exceeding 10%.
Analysts have responded by sharply revising earnings growth expectations for 2026, largely on the back of these Asian tech powerhouses. Lower crude oil prices have added fuel to the fire, creating a risk-on atmosphere that has simultaneously lifted US tech benchmarks. The Nasdaq and S&P 500 have been hitting their own record highs, driven by the same AI-fueled optimism that’s powering emerging-market gains.
