Emerging market stocks rally strongest in 15 years on dollar weakness

Emerging-market equities are experiencing their best performance in over 15 years, with the MSCI Emerging Markets Index up around 28 % in 2025. Investors cite a weaker U.S. dollar, stronger earnings in tech and semiconductors, and recovering investor sentiment in regions such as Latin America and Asia. While developed-market gains remain modest, flows into emerging markets are still low, suggesting further upside potential. India is noted as a laggard due to stretched valuations despite the global rebound.