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.
PSU bank stocks soar up to 8%, but HDFC, Axis and other private lenders fall up to 5% after Q2 results. Why the sharp divide?
PSU bank stocks surged up to 8% on Monday, led by Punjab National Bank after its Q2FY27 earnings beat estimates. In contrast, private lenders such
October 19, 2026