Emerging-market shares, FX mixed as Nvidia CEO exit hits Chinese AI stocks
NVDA•Emerging-market equities were mixed, with Chinese AI stocks falling after Nvidia CEO Jensen Huang resigned, while MSCI’s emerging-market equity index remained on track for its biggest weekly gain in about five months. The emerging-market currency index was down 0.07% and headed for a third straight weekly decline.
1. AI shares under pressure
Investors sold Chinese AI model developers and hardware suppliers with US exposure, concerned Huang’s resignation could deepen the technology divide between the United States and China. Z.AI Co and MiniMax Group fell sharply, while data-centre suppliers Zhongji Innolight and Eoptolink Technology also declined.
2. Regional market moves
MSCI’s emerging-market equity index fell 0.4% on Friday but was still on course for its strongest weekly gain in about five months. Taiwan stocks were set for their strongest weekly performance since 2002, while South Korean shares closed about 1% lower but gained 4.56% for the week.
3. Currencies and economic data
Emerging-market currencies were broadly steady as investors weighed a stronger US dollar and oil-price volatility. Poland’s economy grew 3.5% year on year in the third quarter, slightly below forecasts, while Romania’s central bank held its benchmark rate at 6.50% and said inflation would return to its target range in early 2028.
