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Emerging Markets Get Reprieve as Trump Says War to End ‘Soon’
Posted
March 10, 2026
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3:36Now PlayingTina Vandersteel, Head of Emerging Country Debt at GMO, discusses the long term return advantage of EM sovereign bonds.
Emerging-market currencies and stocks rebounded Tuesday after President Donald Trump hinted at a speedy end to the Iran war, pushing oil prices lower and bringing investors back to buy beaten-down assets.
MSCI’s benchmark emerging equity index rose 3.2% at 11:55 a.m. in London, snapping a two-day losing streak, with technology behemoths such as Samsung Electronics Co., SK Hynix Inc. and Taiwan Semiconductor Manufacturing Co. leading the rebound. South Korea’s Kospi index was among the biggest gainers globally, paring much of the previous day’s 6% slide.
The drop in oil and weakness in the dollar are providing a reprieve for emerging markets, which sold off more heavily than their developed counterparts in recent days. Brent futures dropped more than 7%, though they remain about 50% higher since the start of the year.
The geopolitical turmoil has temporarily overshadowed the fundamental allure of developing economies that fueled their outperformance last year and early in 2026. But the asset class remains attractive over the longer term and is likely to restart its rally when the volatility eases, said Lilian Chovin, head of asset allocation at Coutts & Co.
“When you look at a lot of typical drivers for emerging markets, we are still confident that once the noise dissipates, they will resume the trend,” he said. “We still think it will be one of the winners for 2026.”
Chovin said the artificial intelligence sector would remain a key market driver this year and that he preferred buying into that theme through emerging markets rather than other regions.
The comments echoes similar remarks by Ray Sharma-Ong, deputy global head of multi-asset bespoke solutions at Aberdeen Investments, who saw South Korea and Taiwan as positioned to benefit from large investments into AI.
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