Top of the Morning: Emerging market equities - New drivers, new risks, and what to watch next

Emerging market equities have come a long way, evolving from commodity-driven high-beta plays to a dynamic mix of tech, AI, and regional growth stories. In this episode, we break down what’s powering EM returns today, the rise of North Asia’s tech giants, the shifting role of commodities, and why diversification matters more than ever. We also spotlight the key catalysts to watch in the months ahead: the Iran peace deal, US-China diplomacy, hyperscaler spending, China’s growth outlook, and pivotal EM elections. Featured is Xingchen Yu, Emerging Markets Strategist Americas, UBS Chief Investment Office. Host: Daniel Cassidy