The Zhitong Finance App learned that emerging market stock markets have risen. Previously, the Federal Reserve expressed optimism about the impact of artificial intelligence on the economy.

The MSCI Emerging Markets Index rose to 1% for the first time this week. Earlier, Federal Reserve Chairman Kevin Walsh said that AI will bring great benefits to the US economy. Contrary to overall market optimism, the Indonesian stock market recorded its biggest decline in nearly 30 years, after MSCI said the country no longer had an emerging market position.

MSCI said it is seeking comments on a proposal to reclassify Indonesia as an independent market, and said that if it were downgraded to a frontier market, it would not fully reflect the severity of the country's market problems. The performance of the Indonesian rupiah against the US dollar on Monday lagged behind all Asian currencies.

OCBC strategist Christopher Wong said that although the proposed reclassification may be viewed as a “marginal disadvantage for Indonesian assets,” the direct impact on capital flows may be limited. “The bigger focus is on how this might affect investor sentiment.”

Another sign that AI is boosting the economy is that Malaysia's GDP grew 5.3% year over year in the first quarter, exceeding economists' expectations, and AI continued to drive the country's export growth.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.