Emerging Stocks Jump to 2021 High as AI Frenzy Fuels Tech Rally

Most emerging-market currencies weakened as the dollar snapped a four-day losing streak and traders grappled with the lack of economic indicators during the US government shutdown. Stocks rose.

An MSCI Inc. gauge for developing-nation currencies ended the session less than 0.1% lower Thursday. High-yielding names like Mexico’s peso, South Africa’s rand and Brazil’s real were among the worst performers in a basket of 23 exchange rates tracked by Bloomberg.