Emerging Stocks Set to Close at Record High on Tech Bets

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Emerging-market equities are poised to close at a record high, driven by AI-related trades and strong performance in semiconductor stocks like SK Hynix and Samsung Electronics. South Korea's equity index saw a significant rally, with strategists upgrading their outlook due to rising earnings from the global AI boom. However, concerns are mounting that technology stocks may be overvalued, and potential chip supply disruptions could impact the sector. Meanwhile, emerging currencies weakened as oil prices rose following US President Donald Trump's rejection of Iran's peace proposal.