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.
Why FIIs are dumping bluechips to hunt small & midcaps
Foreign institutional investors are shifting their focus from India’s top blue-chip stocks to a wider array of mid- and small-cap companies. This strategic repositioning is