Emerging market stocks have risen for the third consecutive day, with currency performance lagging behind.

Emerging market stocks have risen for the third consecutive day, with global markets continuing to show optimism as the year-end approaches. The MSCI Emerging Markets Stock Index rose by 0.2%, surpassing a total increase of 2% over the past three trading days. The corresponding currency return index has lagged behind the stock market gains, remaining relatively flat for the day and showing overall steady trends for most of the second half of 2025. The rise in emerging market stocks is mainly driven by Asia. Since the beginning of the year, Asian stock markets have outperformed benchmark stock indices in the United States and Europe for the first time since 2020 when priced in US dollars. As the end of the year approaches, Guillaume Tresca, Global Emerging Market Strategist at Generali Asset Management in Paris, points out that the strong performance of US tech stocks and commodities should not be interpreted as a universal reflection of investor sentiment.