Boosted by the AI craze and optimistic expectations from the Federal Reserve, emerging market assets rebounded across the board.

With the rebound of South Korean technology blue-chip stocks, emerging market stocks saw their largest single-day increase since mid-June; at the same time, due to weaker-than-expected US labor market data, emerging market currencies strengthened for the second consecutive day. On Friday, the MSCI Emerging Markets Stock Index rose by 2.2%, marking the largest single-day increase since June 15. The strong performance of South Korean chip manufacturers SK Hynix and Samsung Electronics offset the drag caused by the decline in TSMC stock prices. The South Korean composite stock price index surged by 5.8%, partially recovering from the nearly 10% decline over the previous two trading days.