[AI Boom Drives Emerging Asian Stock Markets to Record Highs, Oil Price Surge and Stronger Dollar Weigh on Asian Currencies] According to Golden Finance, on June 1, driven by sustained enthusiasm for AI-related trading, emerging Asian stock markets surged to record levels. Despite the ongoing Iran war, the AI boom has supported global stock markets. The MSCI Emerging Markets Index rose by as much as 2% on Monday, hitting a historic high, led by AI-focused companies in South Korea and Taiwan. Denise Cheok from Moody's Analytics stated: 'Although numerous risks are looming, the AI boom continues, with tailwinds in the sector driving growth in parts of Southeast Asia participating in the tech ecosystem. However, the concentration in a single sector also poses the risk of a sudden drop in AI demand.' Meanwhile, rising oil prices have put pressure on the external finances of several Asian countries that are net fuel importers. This has weighed on their currencies, with the Indonesian rupiah and Indian rupee being the worst-performing currencies so far this year. Wee Khoon Chong, an Asia-Pacific market strategist at Bank of New York, commented, 'The strength in stock markets has not translated into currency strength. Asia-Pacific currencies have been dragged down by the stronger dollar and the rebound in crude oil prices. Recently, trade condition pressures have been the biggest factor weighing on many Asia-Pacific currencies.' (Jin10)