Emerging-market currencies and stocks retreated on Thursday, breaking a five day winning streak in a session marked by jitters around the artificial-intelligence boom.

Investors selling the dollar to buy emerging-market currencies are off to a lucrative start in 2026, with strategists at top banks expecting such strategies to build further on last year’s 18% rally.

Chinese officials have told the country’s largest tech firms including Alibaba Group Holding Ltd. they can prepare orders for Nvidia Corp.’s H200 AI chips, suggesting Beijing is close to formally approving imports of components essential to powering artificial intelligence.

Leading Chinese oil companies with interests in Venezuela have asked Beijing for guidance on how to protect their investments as Washington cranks up pressure on the Latin American country to increase its economic ties with the US.

Emerging-market assets halted their recent advance on Thursday, with a gauge of currencies ending the day little changed and stocks falling slightly amid thin liquidity due to the Thanksgiving holiday.