EM stocks rally as Alibaba surges on AI revenue boost

September 2, 2025

Emerging-market equities experienced a rally, driven by AI-related stocks in Hong Kong and China, following Alibaba’s report of surging AI revenue. Alibaba’s shares jumped significantly, boosting the MSCI EM Index. Meanwhile, the Indonesian rupiah saw the largest gain against the dollar in Asia as Bank Indonesia intervened to stabilize the currency amid political concerns.

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