Asian emerging market stock indices recorded their largest single-day gain in 17 years, driven by the South Korean and Taiwanese stock markets

According to Gate market data, on Friday, Asian emerging market stock indices recorded their largest single-day increase in over 17 years, as the stock markets in South Korea and Taiwan surged, alleviating market concerns about spending related to artificial intelligence.

The MSCI Asia Emerging Markets Index rose by about 7%, and the technology index increased by over 13%, both marking their largest single-day gains since October 2008. Nevertheless, both indices have still declined by 5% and 14% respectively so far this month.