Emerging-market currencies edged lower on Wednesday as a stronger US ??dollar sapped demand for riskier assets, while stocks struggled to regain momentum after a sharp technology-led rout.
MSCI’s index of emerging-market equities was subdued after sliding about 4 per cent on Tuesday. South Korean shares rebounded 3.3 per cent in a volatile session, recovering some ground after a 10 per cent plunge on Tuesday, their steepest one-day drop since March, as a selloff in heavyweight technology names swept through markets.
The Kospi has doubled over the past year to become the world’s best-performing major stock index, fuelled by surging chipmakers at the centre of the AI infra boom. “The size of the drawdown is pretty impressive but totally understandable when looking at the preceding parabolic rally,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.
First Published: Jun 24 2026 | 11:38 PM IST
