diff --git a/src/compiler.ts b/src/compiler.ts
index c3c3778a05..d8ee0cdf74 100644
--- a/src/compiler.ts
+++ b/src/compiler.ts
@@ -8136,7 +8136,8 @@ export class Compiler extends DiagnosticEmitter {
     var parts = expression.parts;
     var numParts = parts.length;
     var expressions = expression.expressions;
-    assert(numParts - 1 == expressions.length);
+    var numExpressions = expressions.length;
+    assert(numExpressions == numParts - 1);
 
     var module = this.module;
     var stringInstance = this.program.stringInstance;
@@ -8202,8 +8203,8 @@ export class Compiler extends DiagnosticEmitter {
         return this.makeCallDirect(concatMethod, [ lhs, rhs ], expression);
       }
 
-      // Compile to a `StaticArray<string>#join("") for general case
-      let length = 2 * numParts - 1;
+      // Compile to a `StaticArray<string>#join("") in the general case
+      let length = numParts + numExpressions;
       let values = new Array<usize>(length);
       values[0] = this.ensureStaticString(parts[0]);
       for (let i = 1; i < numParts; ++i) {
@@ -8215,19 +8216,33 @@ export class Compiler extends DiagnosticEmitter {
       let offset = i64_add(segment.offset, i64_new(this.program.totalOverhead));
       let joinInstance = assert(arrayInstance.getMethod("join"));
       let indexedSetInstance = assert(arrayInstance.lookupOverload(OperatorKind.INDEXED_SET, true));
-      let stmts = new Array<ExpressionRef>(numParts);
-      for (let i = 0, k = numParts - 1; i < k; ++i) {
+      let stmts = new Array<ExpressionRef>(2 * numExpressions + 1);
+      // Use one local per toString'ed subexpression, since otherwise recursion on the same
+      // static array would overwrite already prepared parts. Avoids a temporary array.
+      let temps = new Array<Local>(numExpressions);
+      let flow = this.currentFlow;
+      for (let i = 0; i < numExpressions; ++i) {
         let expression = expressions[i];
-        stmts[i] = this.makeCallDirect(indexedSetInstance, [
-          module.usize(offset),
-          module.i32(2 * i + 1),
+        let temp = flow.getTempLocal(stringType);
+        temps[i] = temp;
+        stmts[i] = module.local_set(temp.index,
           this.makeToString(
             this.compileExpression(expression, stringType),
             this.currentType, expression
-          )
+          ),
+          true
+        );
+      }
+      // Populate the static array with the toString'ed subexpressions and call .join("")
+      for (let i = 0; i < numExpressions; ++i) {
+        stmts[numExpressions + i] = this.makeCallDirect(indexedSetInstance, [
+          module.usize(offset),
+          module.i32(2 * i + 1),
+          module.local_get(temps[i].index, stringType.toRef())
         ], expression);
+        flow.freeTempLocal(temps[i]);
       }
-      stmts[numParts - 1] = this.makeCallDirect(joinInstance, [
+      stmts[2 * numExpressions] = this.makeCallDirect(joinInstance, [
         module.usize(offset),
         this.ensureStaticString("")
       ], expression);
@@ -8385,19 +8400,7 @@ export class Compiler extends DiagnosticEmitter {
 
       // otherwise allocate a new array header and make it wrap a copy of the static buffer
       } else {
-        // __newArray(length, alignLog2, classId, staticBuffer)
-        let expr = this.makeCallDirect(program.newArrayInstance, [
-          module.i32(length),
-          program.options.isWasm64
-            ? module.i64(elementType.alignLog2)
-            : module.i32(elementType.alignLog2),
-          module.i32(arrayInstance.id),
-          program.options.isWasm64
-            ? module.i64(i64_low(bufferAddress), i64_high(bufferAddress))
-            : module.i32(i64_low(bufferAddress))
-        ], expression);
-        this.currentType = arrayType;
-        return expr;
+        return this.makeNewArray(arrayInstance, length, bufferAddress, expression);
       }
     }
 
@@ -8419,16 +8422,7 @@ export class Compiler extends DiagnosticEmitter {
     // tempThis = __newArray(length, alignLog2, classId, source = 0)
     stmts.push(
       module.local_set(tempThis.index,
-        this.makeCallDirect(program.newArrayInstance, [
-          module.i32(length),
-          program.options.isWasm64
-            ? module.i64(elementType.alignLog2)
-            : module.i32(elementType.alignLog2),
-          module.i32(arrayInstance.id),
-          program.options.isWasm64
-            ? module.i64(0)
-            : module.i32(0)
-        ], expression),
+        this.makeNewArray(arrayInstance, length, i64_new(0), expression),
         arrayType.isManaged
       )
     );
@@ -8466,6 +8460,37 @@ export class Compiler extends DiagnosticEmitter {
     return module.flatten(stmts, arrayTypeRef);
   }
 
+  /** Makes a new array instance from a static buffer segment. */
+  private makeNewArray(
+    /** Concrete array class. */
+    arrayInstance: Class,
+    /** Length of the array. */
+    length: i32,
+    /** Source address to copy from. Array is zeroed if `0`. */
+    source: i64,
+    /** Report node. */
+    reportNode: Node
+  ): ExpressionRef {
+    var program = this.program;
+    var module = this.module;
+    assert(!arrayInstance.extends(program.staticArrayPrototype));
+    var elementType = arrayInstance.getArrayValueType(); // asserts
+
+    // __newArray(length, alignLog2, classId, staticBuffer)
+    var expr = this.makeCallDirect(program.newArrayInstance, [
+      module.i32(length),
+      program.options.isWasm64
+        ? module.i64(elementType.alignLog2)
+        : module.i32(elementType.alignLog2),
+      module.i32(arrayInstance.id),
+      program.options.isWasm64
+        ? module.i64(i64_low(source), i64_high(source))
+        : module.i32(i64_low(source))
+    ], reportNode);
+    this.currentType = arrayInstance.type;
+    return expr;
+  }
+
   /** Compiles a special `fixed` array literal. */
   private compileStaticArrayLiteral(
     expression: ArrayLiteralExpression,
diff --git a/tests/compiler/templateliteral.optimized.wat b/tests/compiler/templateliteral.optimized.wat
index b91240868a..44041fd406 100644
--- a/tests/compiler/templateliteral.optimized.wat
+++ b/tests/compiler/templateliteral.optimized.wat
@@ -1,8 +1,8 @@
 (module
- (type $i32_i32_i32_=>_none (func (param i32 i32 i32)))
  (type $i32_i32_=>_i32 (func (param i32 i32) (result i32)))
- (type $none_=>_none (func))
+ (type $i32_i32_i32_=>_none (func (param i32 i32 i32)))
  (type $i32_=>_i32 (func (param i32) (result i32)))
+ (type $none_=>_none (func))
  (type $i32_=>_none (func (param i32)))
  (type $i32_i32_=>_none (func (param i32 i32)))
  (type $f64_=>_i32 (func (param f64) (result i32)))
@@ -27,7 +27,7 @@
  (global $~lib/util/number/_K (mut i32) (i32.const 0))
  (global $~lib/util/number/_frc_pow (mut i64) (i64.const 0))
  (global $~lib/util/number/_exp_pow (mut i32) (i32.const 0))
- (global $~lib/memory/__stack_pointer (mut i32) (i32.const 21964))
+ (global $~lib/memory/__stack_pointer (mut i32) (i32.const 22116))
  (global $~started (mut i32) (i32.const 0))
  (memory $0 1)
  (data (i32.const 1036) "\1c")
@@ -124,8 +124,16 @@
  (data (i32.const 5432) "\03\00\00\00\14\00\00\00p\06\00\00\00\00\00\00\90\06\00\00\00\00\00\00\b0\06")
  (data (i32.const 5468) "<")
  (data (i32.const 5480) "\01\00\00\00$\00\00\00(\00A\00=\00r\00e\00f\00#\001\00,\00 \00B\00=\00r\00e\00f\00#\002\00)")
- (data (i32.const 5536) "\05\00\00\00 \00\00\00\00\00\00\00 ")
- (data (i32.const 5564) "\04A\00\00\00\00\00\00 ")
+ (data (i32.const 5532) "\1c")
+ (data (i32.const 5544) "\01\00\00\00\02\00\00\00c")
+ (data (i32.const 5564) "\1c")
+ (data (i32.const 5576) "\01\00\00\00\02\00\00\00:")
+ (data (i32.const 5596) ",")
+ (data (i32.const 5608) "\03\00\00\00\14\00\00\00\a0\04\00\00\00\00\00\00\d0\15\00\00\00\00\00\00\a0\04")
+ (data (i32.const 5644) "\1c")
+ (data (i32.const 5656) "\01\00\00\00\n\00\00\00a\00:\00b\00:\00c")
+ (data (i32.const 5680) "\06\00\00\00 \00\00\00\00\00\00\00 ")
+ (data (i32.const 5708) "\04A\00\00\00\00\00\00 ")
  (export "memory" (memory $0))
  (export "_start" (func $~start))
  (func $~lib/string/String.__eq (param $0 i32) (param $1 i32) (result i32)
@@ -326,7 +334,7 @@
    if
     i32.const 0
     local.get $0
-    i32.const 21964
+    i32.const 22116
     i32.lt_u
     local.get $0
     i32.load offset=8
@@ -376,7 +384,7 @@
   if (result i32)
    i32.const 1
   else
-   i32.const 5536
+   i32.const 5680
    i32.load
    local.get $1
    i32.lt_u
@@ -391,7 +399,7 @@
    local.get $1
    i32.const 3
    i32.shl
-   i32.const 5540
+   i32.const 5684
    i32.add
    i32.load
    i32.const 32
@@ -987,10 +995,10 @@
   if
    unreachable
   end
-  i32.const 21968
+  i32.const 22128
   i32.const 0
   i32.store
-  i32.const 23536
+  i32.const 23696
   i32.const 0
   i32.store
   loop $for-loop|0
@@ -1001,7 +1009,7 @@
     local.get $1
     i32.const 2
     i32.shl
-    i32.const 21968
+    i32.const 22128
     i32.add
     i32.const 0
     i32.store offset=4
@@ -1019,7 +1027,7 @@
       i32.add
       i32.const 2
       i32.shl
-      i32.const 21968
+      i32.const 22128
       i32.add
       i32.const 0
       i32.store offset=96
@@ -1037,13 +1045,13 @@
     br $for-loop|0
    end
   end
-  i32.const 21968
-  i32.const 23540
+  i32.const 22128
+  i32.const 23700
   memory.size
   i32.const 16
   i32.shl
   call $~lib/rt/tlsf/addMemory
-  i32.const 21968
+  i32.const 22128
   global.set $~lib/rt/tlsf/ROOT
  )
  (func $~lib/rt/itcms/step (result i32)
@@ -1127,7 +1135,7 @@
       local.set $0
       loop $while-continue|0
        local.get $0
-       i32.const 21964
+       i32.const 22116
        i32.lt_u
        if
         local.get $0
@@ -1222,7 +1230,7 @@
       unreachable
      end
      local.get $0
-     i32.const 21964
+     i32.const 22116
      i32.lt_u
      if
       local.get $0
@@ -1245,7 +1253,7 @@
       i32.const 4
       i32.add
       local.tee $0
-      i32.const 21964
+      i32.const 22116
       i32.ge_u
       if
        global.get $~lib/rt/tlsf/ROOT
@@ -2821,63 +2829,62 @@
    end
   end
  )
- (func $~lib/staticarray/StaticArray<~lib/string/String>#__uset (param $0 i32) (param $1 i32) (param $2 i32)
+ (func $~lib/rt/itcms/__link (param $0 i32) (param $1 i32) (param $2 i32)
+  (local $3 i32)
   local.get $1
-  i32.const 2
-  i32.shl
+  i32.eqz
+  if
+   return
+  end
   local.get $0
-  i32.add
-  local.get $2
-  i32.store
-  local.get $2
+  i32.eqz
+  if
+   i32.const 0
+   i32.const 1280
+   i32.const 294
+   i32.const 14
+   call $~lib/builtins/abort
+   unreachable
+  end
+  global.get $~lib/rt/itcms/white
+  local.get $1
+  i32.const 20
+  i32.sub
+  local.tee $1
+  i32.load offset=4
+  i32.const 3
+  i32.and
+  i32.eq
   if
    local.get $0
-   i32.eqz
-   if
-    i32.const 0
-    i32.const 1280
-    i32.const 294
-    i32.const 14
-    call $~lib/builtins/abort
-    unreachable
-   end
-   global.get $~lib/rt/itcms/white
-   local.get $2
    i32.const 20
    i32.sub
-   local.tee $2
+   local.tee $0
    i32.load offset=4
    i32.const 3
    i32.and
+   local.tee $3
+   global.get $~lib/rt/itcms/white
+   i32.eqz
    i32.eq
    if
     local.get $0
-    i32.const 20
-    i32.sub
-    local.tee $1
-    i32.load offset=4
+    local.get $1
+    local.get $2
+    select
+    call $~lib/rt/itcms/Object#makeGray
+   else
+    global.get $~lib/rt/itcms/state
+    i32.const 1
+    i32.eq
+    i32.const 0
+    local.get $3
     i32.const 3
-    i32.and
-    local.tee $0
-    global.get $~lib/rt/itcms/white
-    i32.eqz
     i32.eq
+    select
     if
      local.get $1
      call $~lib/rt/itcms/Object#makeGray
-    else
-     global.get $~lib/rt/itcms/state
-     i32.const 1
-     i32.eq
-     i32.const 0
-     local.get $0
-     i32.const 3
-     i32.eq
-     select
-     if
-      local.get $2
-      call $~lib/rt/itcms/Object#makeGray
-     end
     end
    end
   end
@@ -2901,11 +2908,11 @@
   i32.sub
   global.set $~lib/memory/__stack_pointer
   global.get $~lib/memory/__stack_pointer
-  i32.const 5580
+  i32.const 5732
   i32.lt_s
   if
-   i32.const 21984
-   i32.const 22032
+   i32.const 22144
+   i32.const 22192
    i32.const 1
    i32.const 1
    call $~lib/builtins/abort
@@ -3213,11 +3220,11 @@
   i32.sub
   global.set $~lib/memory/__stack_pointer
   global.get $~lib/memory/__stack_pointer
-  i32.const 5580
+  i32.const 5732
   i32.lt_s
   if
-   i32.const 21984
-   i32.const 22032
+   i32.const 22144
+   i32.const 22192
    i32.const 1
    i32.const 1
    call $~lib/builtins/abort
@@ -4382,11 +4389,11 @@
   i32.sub
   global.set $~lib/memory/__stack_pointer
   global.get $~lib/memory/__stack_pointer
-  i32.const 5580
+  i32.const 5732
   i32.lt_s
   if
-   i32.const 21984
-   i32.const 22032
+   i32.const 22144
+   i32.const 22192
    i32.const 1
    i32.const 1
    call $~lib/builtins/abort
@@ -4469,7 +4476,7 @@
   memory.size
   i32.const 16
   i32.shl
-  i32.const 21964
+  i32.const 22116
   i32.sub
   i32.const 1
   i32.shr_u
@@ -4502,11 +4509,11 @@
   i32.const 24
   i32.sub
   global.set $~lib/memory/__stack_pointer
-  block $folding-inner0
+  block $folding-inner1
    global.get $~lib/memory/__stack_pointer
-   i32.const 5580
+   i32.const 5732
    i32.lt_s
-   br_if $folding-inner0
+   br_if $folding-inner1
    global.get $~lib/memory/__stack_pointer
    local.tee $0
    i64.const 0
@@ -4564,21 +4571,28 @@
    global.get $~lib/memory/__stack_pointer
    i32.const 1744
    i32.store offset=16
+   i32.const 1748
+   i32.const 1056
+   i32.store
    i32.const 1744
-   i32.const 1
    i32.const 1056
-   call $~lib/staticarray/StaticArray<~lib/string/String>#__uset
+   i32.const 1
+   call $~lib/rt/itcms/__link
    global.get $~lib/memory/__stack_pointer
    i32.const 1744
    i32.store offset=16
+   i32.const 1756
+   i32.const 1088
+   i32.store
    i32.const 1744
-   i32.const 3
    i32.const 1088
-   call $~lib/staticarray/StaticArray<~lib/string/String>#__uset
+   i32.const 1
+   call $~lib/rt/itcms/__link
    global.get $~lib/memory/__stack_pointer
+   local.tee $0
    i32.const 1744
    i32.store offset=16
-   global.get $~lib/memory/__stack_pointer
+   local.get $0
    i32.const 1184
    i32.store offset=20
    i32.const 1744
@@ -4607,13 +4621,13 @@
    i32.add
    global.set $~lib/memory/__stack_pointer
    global.get $~lib/memory/__stack_pointer
-   i32.const 20
+   i32.const 24
    i32.sub
    global.set $~lib/memory/__stack_pointer
    global.get $~lib/memory/__stack_pointer
-   i32.const 5580
+   i32.const 5732
    i32.lt_s
-   br_if $folding-inner0
+   br_if $folding-inner1
    global.get $~lib/memory/__stack_pointer
    local.tee $0
    i64.const 0
@@ -4622,8 +4636,8 @@
    i64.const 0
    i64.store offset=8
    local.get $0
-   i32.const 0
-   i32.store offset=16
+   i64.const 0
+   i64.store offset=16
    i32.const 1
    call $~lib/number/I32#toString
    local.set $0
@@ -4680,35 +4694,40 @@
     unreachable
    end
    global.get $~lib/memory/__stack_pointer
-   i32.const 3680
-   i32.store offset=8
    i32.const 1
    call $~lib/number/I32#toString
-   local.set $0
-   global.get $~lib/memory/__stack_pointer
-   local.get $0
+   local.tee $0
    i32.store offset=16
-   i32.const 3680
-   i32.const 1
-   local.get $0
-   call $~lib/staticarray/StaticArray<~lib/string/String>#__uset
    global.get $~lib/memory/__stack_pointer
-   i32.const 3680
-   i32.store offset=8
    i32.const 2
    call $~lib/number/I32#toString
-   local.set $0
+   local.tee $1
+   i32.store offset=20
    global.get $~lib/memory/__stack_pointer
+   i32.const 3680
+   i32.store offset=8
+   i32.const 3684
    local.get $0
-   i32.store offset=16
+   i32.store
    i32.const 3680
-   i32.const 3
    local.get $0
-   call $~lib/staticarray/StaticArray<~lib/string/String>#__uset
+   i32.const 1
+   call $~lib/rt/itcms/__link
    global.get $~lib/memory/__stack_pointer
    i32.const 3680
    i32.store offset=8
+   i32.const 3692
+   local.get $1
+   i32.store
+   i32.const 3680
+   local.get $1
+   i32.const 1
+   call $~lib/rt/itcms/__link
    global.get $~lib/memory/__stack_pointer
+   local.tee $0
+   i32.const 3680
+   i32.store offset=8
+   local.get $0
    i32.const 1184
    i32.store offset=12
    i32.const 3680
@@ -4733,17 +4752,17 @@
     unreachable
    end
    global.get $~lib/memory/__stack_pointer
-   i32.const 20
+   i32.const 24
    i32.add
    global.set $~lib/memory/__stack_pointer
    global.get $~lib/memory/__stack_pointer
-   i32.const 20
+   i32.const 24
    i32.sub
    global.set $~lib/memory/__stack_pointer
    global.get $~lib/memory/__stack_pointer
-   i32.const 5580
+   i32.const 5732
    i32.lt_s
-   br_if $folding-inner0
+   br_if $folding-inner1
    global.get $~lib/memory/__stack_pointer
    local.tee $0
    i64.const 0
@@ -4752,8 +4771,8 @@
    i64.const 0
    i64.store offset=8
    local.get $0
-   i32.const 0
-   i32.store offset=16
+   i64.const 0
+   i64.store offset=16
    f64.const 1
    call $~lib/number/F64#toString
    local.set $0
@@ -4810,35 +4829,40 @@
     unreachable
    end
    global.get $~lib/memory/__stack_pointer
-   i32.const 4976
-   i32.store offset=8
    f64.const 1
    call $~lib/number/F64#toString
-   local.set $0
-   global.get $~lib/memory/__stack_pointer
-   local.get $0
+   local.tee $0
    i32.store offset=16
-   i32.const 4976
-   i32.const 1
-   local.get $0
-   call $~lib/staticarray/StaticArray<~lib/string/String>#__uset
    global.get $~lib/memory/__stack_pointer
-   i32.const 4976
-   i32.store offset=8
    f64.const 2
    call $~lib/number/F64#toString
-   local.set $0
+   local.tee $1
+   i32.store offset=20
    global.get $~lib/memory/__stack_pointer
+   i32.const 4976
+   i32.store offset=8
+   i32.const 4980
    local.get $0
-   i32.store offset=16
+   i32.store
    i32.const 4976
-   i32.const 3
    local.get $0
-   call $~lib/staticarray/StaticArray<~lib/string/String>#__uset
+   i32.const 1
+   call $~lib/rt/itcms/__link
    global.get $~lib/memory/__stack_pointer
    i32.const 4976
    i32.store offset=8
+   i32.const 4988
+   local.get $1
+   i32.store
+   i32.const 4976
+   local.get $1
+   i32.const 1
+   call $~lib/rt/itcms/__link
    global.get $~lib/memory/__stack_pointer
+   local.tee $0
+   i32.const 4976
+   i32.store offset=8
+   local.get $0
    i32.const 1184
    i32.store offset=12
    i32.const 4976
@@ -4863,7 +4887,7 @@
     unreachable
    end
    global.get $~lib/memory/__stack_pointer
-   i32.const 20
+   i32.const 24
    i32.add
    global.set $~lib/memory/__stack_pointer
    global.get $~lib/memory/__stack_pointer
@@ -4871,9 +4895,9 @@
    i32.sub
    global.set $~lib/memory/__stack_pointer
    global.get $~lib/memory/__stack_pointer
-   i32.const 5580
+   i32.const 5732
    i32.lt_s
-   br_if $folding-inner0
+   br_if $folding-inner1
    global.get $~lib/memory/__stack_pointer
    local.tee $0
    i64.const 0
@@ -5069,13 +5093,13 @@
    i32.add
    global.set $~lib/memory/__stack_pointer
    global.get $~lib/memory/__stack_pointer
-   i32.const 28
+   i32.const 32
    i32.sub
    global.set $~lib/memory/__stack_pointer
    global.get $~lib/memory/__stack_pointer
-   i32.const 5580
+   i32.const 5732
    i32.lt_s
-   br_if $folding-inner0
+   br_if $folding-inner1
    global.get $~lib/memory/__stack_pointer
    local.tee $0
    i64.const 0
@@ -5087,8 +5111,8 @@
    i64.const 0
    i64.store offset=16
    local.get $0
-   i32.const 0
-   i32.store offset=24
+   i64.const 0
+   i64.store offset=24
    local.get $0
    i32.const 1
    call $templateliteral/Ref#constructor
@@ -5155,35 +5179,40 @@
     unreachable
    end
    global.get $~lib/memory/__stack_pointer
-   i32.const 5440
-   i32.store offset=16
    local.get $0
    call $templateliteral/Ref#toString
-   local.set $0
-   global.get $~lib/memory/__stack_pointer
-   local.get $0
+   local.tee $0
    i32.store offset=24
-   i32.const 5440
-   i32.const 1
-   local.get $0
-   call $~lib/staticarray/StaticArray<~lib/string/String>#__uset
    global.get $~lib/memory/__stack_pointer
-   i32.const 5440
-   i32.store offset=16
    local.get $1
    call $templateliteral/Ref#toString
-   local.set $0
+   local.tee $1
+   i32.store offset=28
    global.get $~lib/memory/__stack_pointer
+   i32.const 5440
+   i32.store offset=16
+   i32.const 5444
    local.get $0
-   i32.store offset=24
+   i32.store
    i32.const 5440
-   i32.const 3
    local.get $0
-   call $~lib/staticarray/StaticArray<~lib/string/String>#__uset
+   i32.const 1
+   call $~lib/rt/itcms/__link
    global.get $~lib/memory/__stack_pointer
    i32.const 5440
    i32.store offset=16
+   i32.const 5452
+   local.get $1
+   i32.store
+   i32.const 5440
+   local.get $1
+   i32.const 1
+   call $~lib/rt/itcms/__link
    global.get $~lib/memory/__stack_pointer
+   local.tee $0
+   i32.const 5440
+   i32.store offset=16
+   local.get $0
    i32.const 1184
    i32.store offset=20
    i32.const 5440
@@ -5208,13 +5237,83 @@
     unreachable
    end
    global.get $~lib/memory/__stack_pointer
-   i32.const 28
+   i32.const 32
+   i32.add
+   global.set $~lib/memory/__stack_pointer
+   global.get $~lib/memory/__stack_pointer
+   i32.const 20
+   i32.sub
+   global.set $~lib/memory/__stack_pointer
+   global.get $~lib/memory/__stack_pointer
+   i32.const 5732
+   i32.lt_s
+   br_if $folding-inner1
+   global.get $~lib/memory/__stack_pointer
+   local.tee $0
+   i64.const 0
+   i64.store
+   local.get $0
+   i64.const 0
+   i64.store offset=8
+   local.get $0
+   i32.const 0
+   i32.store offset=16
+   local.get $0
+   i32.const 5552
+   i32.store
+   local.get $0
+   i32.const 5552
+   i32.const 0
+   call $templateliteral/RecursiveObject#constructor
+   local.tee $0
+   i32.store offset=4
+   global.get $~lib/memory/__stack_pointer
+   i32.const 1088
+   i32.store
+   global.get $~lib/memory/__stack_pointer
+   i32.const 1088
+   local.get $0
+   call $templateliteral/RecursiveObject#constructor
+   local.tee $0
+   i32.store offset=8
+   global.get $~lib/memory/__stack_pointer
+   i32.const 1056
+   i32.store
+   global.get $~lib/memory/__stack_pointer
+   i32.const 1056
+   local.get $0
+   call $templateliteral/RecursiveObject#constructor
+   local.tee $0
+   i32.store offset=12
+   local.get $0
+   call $templateliteral/RecursiveObject#toString
+   local.set $0
+   global.get $~lib/memory/__stack_pointer
+   local.get $0
+   i32.store offset=16
+   global.get $~lib/memory/__stack_pointer
+   i32.const 5664
+   i32.store
+   local.get $0
+   i32.const 5664
+   call $~lib/string/String.__eq
+   i32.eqz
+   if
+    i32.const 0
+    i32.const 1120
+    i32.const 118
+    i32.const 3
+    call $~lib/builtins/abort
+    unreachable
+   end
+   global.get $~lib/memory/__stack_pointer
+   i32.const 20
    i32.add
    global.set $~lib/memory/__stack_pointer
    return
   end
-  i32.const 21984
-  i32.const 22032
+  i32.const 22144
+  i32.const 22192
   i32.const 1
   i32.const 1
   call $~lib/builtins/abort
@@ -5224,58 +5323,77 @@
   (local $1 i32)
   (local $2 i32)
   block $invalid
-   block $templateliteral/Ref
-    block $~lib/staticarray/StaticArray<~lib/string/String>
-     block $~lib/arraybuffer/ArrayBufferView
-      block $~lib/string/String
-       block $~lib/arraybuffer/ArrayBuffer
-        local.get $0
-        i32.const 8
-        i32.sub
-        i32.load
-        br_table $~lib/arraybuffer/ArrayBuffer $~lib/string/String $~lib/arraybuffer/ArrayBufferView $~lib/staticarray/StaticArray<~lib/string/String> $templateliteral/Ref $invalid
+   block $templateliteral/RecursiveObject
+    block $templateliteral/Ref
+     block $~lib/staticarray/StaticArray<~lib/string/String>
+      block $~lib/arraybuffer/ArrayBufferView
+       block $~lib/string/String
+        block $~lib/arraybuffer/ArrayBuffer
+         local.get $0
+         i32.const 8
+         i32.sub
+         i32.load
+         br_table $~lib/arraybuffer/ArrayBuffer $~lib/string/String $~lib/arraybuffer/ArrayBufferView $~lib/staticarray/StaticArray<~lib/string/String> $templateliteral/Ref $templateliteral/RecursiveObject $invalid
+        end
+        return
        end
        return
       end
+      local.get $0
+      i32.load
+      local.tee $0
+      if
+       local.get $0
+       call $~lib/rt/itcms/__visit
+      end
       return
      end
      local.get $0
-     i32.load
-     local.tee $0
-     if
-      local.get $0
-      call $~lib/rt/itcms/__visit
-     end
-     return
-    end
-    local.get $0
-    i32.const 20
-    i32.sub
-    i32.load offset=16
-    local.get $0
-    i32.add
-    local.set $1
-    loop $while-continue|0
+     local.tee $1
      local.get $0
-     local.get $1
-     i32.lt_u
-     if
-      local.get $0
-      i32.load
-      local.tee $2
+     i32.const 20
+     i32.sub
+     i32.load offset=16
+     i32.add
+     local.set $2
+     loop $while-continue|0
+      local.get $1
+      local.get $2
+      i32.lt_u
       if
-       local.get $2
-       call $~lib/rt/itcms/__visit
+       local.get $1
+       i32.load
+       local.tee $0
+       if
+        local.get $0
+        call $~lib/rt/itcms/__visit
+       end
+       local.get $1
+       i32.const 4
+       i32.add
+       local.set $1
+       br $while-continue|0
       end
-      local.get $0
-      i32.const 4
-      i32.add
-      local.set $0
-      br $while-continue|0
      end
+     return
     end
     return
    end
+   local.get $0
+   local.tee $1
+   i32.load
+   local.tee $0
+   if
+    local.get $0
+    call $~lib/rt/itcms/__visit
+   end
+   local.get $1
+   i32.load offset=4
+   local.tee $1
+   if
+    local.get $1
+    call $~lib/rt/itcms/__visit
+   end
    return
   end
   unreachable
@@ -5296,11 +5414,11 @@
   i32.sub
   global.set $~lib/memory/__stack_pointer
   global.get $~lib/memory/__stack_pointer
-  i32.const 5580
+  i32.const 5732
   i32.lt_s
   if
-   i32.const 21984
-   i32.const 22032
+   i32.const 22144
+   i32.const 22192
    i32.const 1
    i32.const 1
    call $~lib/builtins/abort
@@ -5328,6 +5446,95 @@
   i32.add
   global.set $~lib/memory/__stack_pointer
  )
+ (func $templateliteral/RecursiveObject#toString (param $0 i32) (result i32)
+  (local $1 i32)
+  (local $2 i32)
+  global.get $~lib/memory/__stack_pointer
+  i32.const 20
+  i32.sub
+  global.set $~lib/memory/__stack_pointer
+  global.get $~lib/memory/__stack_pointer
+  i32.const 5732
+  i32.lt_s
+  if
+   i32.const 22144
+   i32.const 22192
+   i32.const 1
+   i32.const 1
+   call $~lib/builtins/abort
+   unreachable
+  end
+  global.get $~lib/memory/__stack_pointer
+  local.tee $1
+  i64.const 0
+  i64.store
+  local.get $1
+  i64.const 0
+  i64.store offset=8
+  local.get $1
+  i32.const 0
+  i32.store offset=16
+  local.get $1
+  local.get $0
+  i32.load offset=4
+  local.tee $1
+  i32.store
+  local.get $1
+  i32.eqz
+  if
+   local.get $0
+   i32.load
+   global.get $~lib/memory/__stack_pointer
+   i32.const 20
+   i32.add
+   global.set $~lib/memory/__stack_pointer
+   return
+  end
+  global.get $~lib/memory/__stack_pointer
+  local.tee $2
+  local.get $0
+  i32.load
+  local.tee $0
+  i32.store offset=4
+  local.get $2
+  local.get $1
+  call $templateliteral/RecursiveObject#toString
+  local.tee $1
+  i32.store offset=8
+  global.get $~lib/memory/__stack_pointer
+  i32.const 5616
+  i32.store offset=12
+  i32.const 5620
+  local.get $0
+  i32.store
+  i32.const 5616
+  local.get $0
+  i32.const 1
+  call $~lib/rt/itcms/__link
+  global.get $~lib/memory/__stack_pointer
+  i32.const 5616
+  i32.store offset=12
+  i32.const 5628
+  local.get $1
+  i32.store
+  i32.const 5616
+  local.get $1
+  i32.const 1
+  call $~lib/rt/itcms/__link
+  global.get $~lib/memory/__stack_pointer
+  local.tee $0
+  i32.const 5616
+  i32.store offset=12
+  local.get $0
+  i32.const 1184
+  i32.store offset=16
+  i32.const 5616
+  call $~lib/staticarray/StaticArray<~lib/string/String>#join
+  global.get $~lib/memory/__stack_pointer
+  i32.const 20
+  i32.add
+  global.set $~lib/memory/__stack_pointer
+ )
  (func $~lib/string/String#concat (param $0 i32) (param $1 i32) (result i32)
   (local $2 i32)
   (local $3 i32)
@@ -5337,11 +5544,11 @@
   i32.sub
   global.set $~lib/memory/__stack_pointer
   global.get $~lib/memory/__stack_pointer
-  i32.const 5580
+  i32.const 5732
   i32.lt_s
   if
-   i32.const 21984
-   i32.const 22032
+   i32.const 22144
+   i32.const 22192
    i32.const 1
    i32.const 1
    call $~lib/builtins/abort
@@ -5408,11 +5615,11 @@
   i32.sub
   global.set $~lib/memory/__stack_pointer
   global.get $~lib/memory/__stack_pointer
-  i32.const 5580
+  i32.const 5732
   i32.lt_s
   if
-   i32.const 21984
-   i32.const 22032
+   i32.const 22144
+   i32.const 22192
    i32.const 1
    i32.const 1
    call $~lib/builtins/abort
@@ -5437,4 +5644,51 @@
   global.set $~lib/memory/__stack_pointer
   local.get $1
  )
+ (func $templateliteral/RecursiveObject#constructor (param $0 i32) (param $1 i32) (result i32)
+  (local $2 i32)
+  global.get $~lib/memory/__stack_pointer
+  i32.const 4
+  i32.sub
+  global.set $~lib/memory/__stack_pointer
+  global.get $~lib/memory/__stack_pointer
+  i32.const 5732
+  i32.lt_s
+  if
+   i32.const 22144
+   i32.const 22192
+   i32.const 1
+   i32.const 1
+   call $~lib/builtins/abort
+   unreachable
+  end
+  global.get $~lib/memory/__stack_pointer
+  local.tee $2
+  i32.const 0
+  i32.store
+  local.get $2
+  i32.const 8
+  i32.const 5
+  call $~lib/rt/itcms/__new
+  local.tee $2
+  i32.store
+  local.get $2
+  local.get $0
+  i32.store
+  local.get $2
+  local.get $0
+  i32.const 0
+  call $~lib/rt/itcms/__link
+  local.get $2
+  local.get $1
+  i32.store offset=4
+  local.get $2
+  local.get $1
+  i32.const 0
+  call $~lib/rt/itcms/__link
+  global.get $~lib/memory/__stack_pointer
+  i32.const 4
+  i32.add
+  global.set $~lib/memory/__stack_pointer
+  local.get $2
+ )
 )
diff --git a/tests/compiler/templateliteral.ts b/tests/compiler/templateliteral.ts
index c015573c32..b6d3782712 100644
--- a/tests/compiler/templateliteral.ts
+++ b/tests/compiler/templateliteral.ts
@@ -96,3 +96,25 @@ function test_raw(): void {
   assert(raw`\u1000` == "\\u1000");
 }
 // test_raw(); // TODO: Requires ReadonlyArray to be safe
+
+class RecursiveObject  {
+  constructor(
+    public key: string,
+    public val: RecursiveObject | null = null
+  ) {}
+  toString(): string {
+    let val = this.val;
+    if (!val) return this.key;
+    // see: https://github.com/AssemblyScript/assemblyscript/issues/1944
+    // trigger general case by wrapping three times below (2x with value)
+    return `${this.key}:${val}`;
+  }
+}
+
+function test_recursive(): void {
+  const c = new RecursiveObject("c");
+  const b = new RecursiveObject("b", c);
+  const a = new RecursiveObject("a", b);
+  assert(a.toString() == "a:b:c");
+}
+test_recursive();
diff --git a/tests/compiler/templateliteral.untouched.wat b/tests/compiler/templateliteral.untouched.wat
index 9b05fd6b6b..324a967b2c 100644
--- a/tests/compiler/templateliteral.untouched.wat
+++ b/tests/compiler/templateliteral.untouched.wat
@@ -1,8 +1,8 @@
 (module
  (type $i32_i32_=>_none (func (param i32 i32)))
  (type $i32_=>_i32 (func (param i32) (result i32)))
- (type $i32_i32_=>_i32 (func (param i32 i32) (result i32)))
  (type $none_=>_none (func))
+ (type $i32_i32_=>_i32 (func (param i32 i32) (result i32)))
  (type $i32_i32_i32_=>_none (func (param i32 i32 i32)))
  (type $i32_=>_none (func (param i32)))
  (type $i32_i32_i32_=>_i32 (func (param i32 i32 i32) (result i32)))
@@ -35,10 +35,10 @@
  (global $~lib/util/number/_K (mut i32) (i32.const 0))
  (global $~lib/util/number/_frc_pow (mut i64) (i64.const 0))
  (global $~lib/util/number/_exp_pow (mut i32) (i32.const 0))
- (global $~lib/rt/__rtti_base i32 (i32.const 4512))
- (global $~lib/memory/__data_end i32 (i32.const 4556))
- (global $~lib/memory/__stack_pointer (mut i32) (i32.const 20940))
- (global $~lib/memory/__heap_base i32 (i32.const 20940))
+ (global $~lib/rt/__rtti_base i32 (i32.const 4656))
+ (global $~lib/memory/__data_end i32 (i32.const 4708))
+ (global $~lib/memory/__stack_pointer (mut i32) (i32.const 21092))
+ (global $~lib/memory/__heap_base i32 (i32.const 21092))
  (global $~started (mut i32) (i32.const 0))
  (memory $0 1)
  (data (i32.const 12) "\1c\00\00\00\00\00\00\00\00\00\00\00\01\00\00\00\02\00\00\00a\00\00\00\00\00\00\00\00\00\00\00")
@@ -94,7 +94,11 @@
  (data (i32.const 4348) ",\00\00\00\00\00\00\00\00\00\00\00\01\00\00\00\14\00\00\00r\00e\00f\00#\001\00r\00e\00f\00#\002\00\00\00\00\00\00\00\00\00")
  (data (i32.const 4396) ",\00\00\00\00\00\00\00\00\00\00\00\03\00\00\00\14\00\00\00p\02\00\00\00\00\00\00\90\02\00\00\00\00\00\00\b0\02\00\00\00\00\00\00\00\00\00\00")
  (data (i32.const 4444) "<\00\00\00\00\00\00\00\00\00\00\00\01\00\00\00$\00\00\00(\00A\00=\00r\00e\00f\00#\001\00,\00 \00B\00=\00r\00e\00f\00#\002\00)\00\00\00\00\00\00\00\00\00")
- (data (i32.const 4512) "\05\00\00\00 \00\00\00\00\00\00\00 \00\00\00\00\00\00\00\00\00\00\00\00\00\00\00\04A\00\00\00\00\00\00 \00\00\00\00\00\00\00")
+ (data (i32.const 4508) "\1c\00\00\00\00\00\00\00\00\00\00\00\01\00\00\00\02\00\00\00c\00\00\00\00\00\00\00\00\00\00\00")
+ (data (i32.const 4540) "\1c\00\00\00\00\00\00\00\00\00\00\00\01\00\00\00\02\00\00\00:\00\00\00\00\00\00\00\00\00\00\00")
+ (data (i32.const 4572) ",\00\00\00\00\00\00\00\00\00\00\00\03\00\00\00\14\00\00\00\a0\00\00\00\00\00\00\00\d0\11\00\00\00\00\00\00\a0\00\00\00\00\00\00\00\00\00\00\00")
+ (data (i32.const 4620) "\1c\00\00\00\00\00\00\00\00\00\00\00\01\00\00\00\n\00\00\00a\00:\00b\00:\00c\00\00\00")
+ (data (i32.const 4656) "\06\00\00\00 \00\00\00\00\00\00\00 \00\00\00\00\00\00\00\00\00\00\00\00\00\00\00\04A\00\00\00\00\00\00 \00\00\00\00\00\00\00\00\00\00\00\00\00\00\00")
  (table $0 1 funcref)
  (elem $0 (i32.const 1))
  (export "memory" (memory $0))
@@ -5602,6 +5606,24 @@
   local.get $1
   call $~lib/string/String#concat
  )
+ (func $templateliteral/RecursiveObject#set:key (param $0 i32) (param $1 i32)
+  local.get $0
+  local.get $1
+  i32.store
+  local.get $0
+  local.get $1
+  i32.const 0
+  call $~lib/rt/itcms/__link
+ )
+ (func $templateliteral/RecursiveObject#set:val (param $0 i32) (param $1 i32)
+  local.get $0
+  local.get $1
+  i32.store offset=4
+  local.get $0
+  local.get $1
+  i32.const 0
+  call $~lib/rt/itcms/__link
+ )
  (func $start:templateliteral
   memory.size
   i32.const 16
@@ -5625,6 +5647,7 @@
   call $templateliteral/test_float
   call $templateliteral/test_fast_paths_string
   call $templateliteral/test_ref
+  call $templateliteral/test_recursive
  )
  (func $~lib/rt/__visit_globals (param $0 i32)
   (local $1 i32)
@@ -5697,33 +5720,58 @@
   local.get $1
   call $~lib/staticarray/StaticArray<~lib/string/String>#__visit
  )
+ (func $templateliteral/RecursiveObject~visit (param $0 i32) (param $1 i32)
+  (local $2 i32)
+  local.get $0
+  i32.load
+  local.tee $2
+  if
+   local.get $2
+   local.get $1
+   call $~lib/rt/itcms/__visit
+  end
+  local.get $0
+  i32.load offset=4
+  local.tee $2
+  if
+   local.get $2
+   local.get $1
+   call $~lib/rt/itcms/__visit
+  end
+ )
  (func $~lib/rt/__visit_members (param $0 i32) (param $1 i32)
   block $invalid
-   block $templateliteral/Ref
-    block $~lib/staticarray/StaticArray<~lib/string/String>
-     block $~lib/arraybuffer/ArrayBufferView
-      block $~lib/string/String
-       block $~lib/arraybuffer/ArrayBuffer
-        local.get $0
-        i32.const 8
-        i32.sub
-        i32.load
-        br_table $~lib/arraybuffer/ArrayBuffer $~lib/string/String $~lib/arraybuffer/ArrayBufferView $~lib/staticarray/StaticArray<~lib/string/String> $templateliteral/Ref $invalid
+   block $templateliteral/RecursiveObject
+    block $templateliteral/Ref
+     block $~lib/staticarray/StaticArray<~lib/string/String>
+      block $~lib/arraybuffer/ArrayBufferView
+       block $~lib/string/String
+        block $~lib/arraybuffer/ArrayBuffer
+         local.get $0
+         i32.const 8
+         i32.sub
+         i32.load
+         br_table $~lib/arraybuffer/ArrayBuffer $~lib/string/String $~lib/arraybuffer/ArrayBufferView $~lib/staticarray/StaticArray<~lib/string/String> $templateliteral/Ref $templateliteral/RecursiveObject $invalid
+        end
+        return
        end
        return
       end
+      local.get $0
+      local.get $1
+      call $~lib/arraybuffer/ArrayBufferView~visit
       return
      end
      local.get $0
      local.get $1
-     call $~lib/arraybuffer/ArrayBufferView~visit
+     call $~lib/staticarray/StaticArray<~lib/string/String>~visit
      return
     end
-    local.get $0
-    local.get $1
-    call $~lib/staticarray/StaticArray<~lib/string/String>~visit
     return
    end
+   local.get $0
+   local.get $1
+   call $templateliteral/RecursiveObject~visit
    return
   end
   unreachable
@@ -5742,8 +5790,8 @@
   global.get $~lib/memory/__data_end
   i32.lt_s
   if
-   i32.const 20960
-   i32.const 21008
+   i32.const 21120
+   i32.const 21168
    i32.const 1
    i32.const 1
    call $~lib/builtins/abort
@@ -5754,6 +5802,8 @@
   (local $0 i32)
   (local $1 i32)
   (local $2 i32)
+  (local $3 i32)
+  (local $4 i32)
   global.get $~lib/memory/__stack_pointer
   i32.const 24
   i32.sub
@@ -5778,11 +5828,11 @@
   i32.store offset=4
   local.get $0
   i32.const 32
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=8
-  local.get $2
+  local.get $4
   call $~lib/string/String.__eq
   i32.eqz
   if
@@ -5796,17 +5846,17 @@
   local.get $0
   local.get $1
   call $~lib/string/String#concat
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=12
-  local.get $2
+  local.get $4
   i32.const 592
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=8
-  local.get $2
+  local.get $4
   call $~lib/string/String.__eq
   i32.eqz
   if
@@ -5817,48 +5867,52 @@
    call $~lib/builtins/abort
    unreachable
   end
-  i32.const 720
+  local.get $0
   local.set $2
+  local.get $1
+  local.set $3
+  i32.const 720
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=16
-  local.get $2
+  local.get $4
   i32.const 1
-  local.get $0
+  local.get $2
   call $~lib/staticarray/StaticArray<~lib/string/String>#__uset
   i32.const 720
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=16
-  local.get $2
+  local.get $4
   i32.const 3
-  local.get $1
+  local.get $3
   call $~lib/staticarray/StaticArray<~lib/string/String>#__uset
   i32.const 720
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=16
-  local.get $2
+  local.get $4
   i32.const 160
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=20
-  local.get $2
+  local.get $4
   call $~lib/staticarray/StaticArray<~lib/string/String>#join
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=12
-  local.get $2
+  local.get $4
   i32.const 768
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=8
-  local.get $2
+  local.get $4
   call $~lib/string/String.__eq
   i32.eqz
   if
@@ -5878,8 +5932,10 @@
   (local $0 i32)
   (local $1 i32)
   (local $2 i32)
+  (local $3 i32)
+  (local $4 i32)
   global.get $~lib/memory/__stack_pointer
-  i32.const 20
+  i32.const 24
   i32.sub
   global.set $~lib/memory/__stack_pointer
   call $~stack_check
@@ -5890,8 +5946,8 @@
   i64.const 0
   i64.store offset=8
   global.get $~lib/memory/__stack_pointer
-  i32.const 0
-  i32.store offset=16
+  i64.const 0
+  i64.store offset=16
   i32.const 1
   local.set $0
   i32.const 2
@@ -5899,17 +5955,17 @@
   local.get $0
   i32.const 10
   call $~lib/number/I32#toString
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store
-  local.get $2
+  local.get $4
   i32.const 2592
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=4
-  local.get $2
+  local.get $4
   call $~lib/string/String.__eq
   i32.eqz
   if
@@ -5923,31 +5979,31 @@
   local.get $0
   i32.const 10
   call $~lib/number/I32#toString
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=8
-  local.get $2
+  local.get $4
   local.get $1
   i32.const 10
   call $~lib/number/I32#toString
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=12
-  local.get $2
+  local.get $4
   call $~lib/string/String#concat
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store
-  local.get $2
+  local.get $4
   i32.const 2624
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=4
-  local.get $2
+  local.get $4
   call $~lib/string/String.__eq
   i32.eqz
   if
@@ -5958,62 +6014,60 @@
    call $~lib/builtins/abort
    unreachable
   end
-  i32.const 2656
-  local.set $2
   global.get $~lib/memory/__stack_pointer
-  local.get $2
-  i32.store offset=8
-  local.get $2
-  i32.const 1
   local.get $0
   i32.const 10
   call $~lib/number/I32#toString
-  local.set $2
-  global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.tee $2
   i32.store offset=16
-  local.get $2
-  call $~lib/staticarray/StaticArray<~lib/string/String>#__uset
-  i32.const 2656
-  local.set $2
   global.get $~lib/memory/__stack_pointer
-  local.get $2
-  i32.store offset=8
-  local.get $2
-  i32.const 3
   local.get $1
   i32.const 10
   call $~lib/number/I32#toString
-  local.set $2
+  local.tee $3
+  i32.store offset=20
+  i32.const 2656
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
-  i32.store offset=16
+  local.get $4
+  i32.store offset=8
+  local.get $4
+  i32.const 1
   local.get $2
   call $~lib/staticarray/StaticArray<~lib/string/String>#__uset
   i32.const 2656
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=8
-  local.get $2
+  local.get $4
+  i32.const 3
+  local.get $3
+  call $~lib/staticarray/StaticArray<~lib/string/String>#__uset
+  i32.const 2656
+  local.set $4
+  global.get $~lib/memory/__stack_pointer
+  local.get $4
+  i32.store offset=8
+  local.get $4
   i32.const 160
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=12
-  local.get $2
+  local.get $4
   call $~lib/staticarray/StaticArray<~lib/string/String>#join
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store
-  local.get $2
+  local.get $4
   i32.const 2704
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=4
-  local.get $2
+  local.get $4
   call $~lib/string/String.__eq
   i32.eqz
   if
@@ -6025,7 +6079,7 @@
    unreachable
   end
   global.get $~lib/memory/__stack_pointer
-  i32.const 20
+  i32.const 24
   i32.add
   global.set $~lib/memory/__stack_pointer
  )
@@ -6033,8 +6087,10 @@
   (local $0 f64)
   (local $1 f64)
   (local $2 i32)
+  (local $3 i32)
+  (local $4 i32)
   global.get $~lib/memory/__stack_pointer
-  i32.const 20
+  i32.const 24
   i32.sub
   global.set $~lib/memory/__stack_pointer
   call $~stack_check
@@ -6045,8 +6101,8 @@
   i64.const 0
   i64.store offset=8
   global.get $~lib/memory/__stack_pointer
-  i32.const 0
-  i32.store offset=16
+  i64.const 0
+  i64.store offset=16
   f64.const 1
   local.set $0
   f64.const 2
@@ -6054,17 +6110,17 @@
   local.get $0
   i32.const 0
   call $~lib/number/F64#toString
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store
-  local.get $2
+  local.get $4
   i32.const 3888
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=4
-  local.get $2
+  local.get $4
   call $~lib/string/String.__eq
   i32.eqz
   if
@@ -6078,31 +6134,31 @@
   local.get $0
   i32.const 0
   call $~lib/number/F64#toString
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=8
-  local.get $2
+  local.get $4
   local.get $1
   i32.const 0
   call $~lib/number/F64#toString
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=12
-  local.get $2
+  local.get $4
   call $~lib/string/String#concat
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store
-  local.get $2
+  local.get $4
   i32.const 3920
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=4
-  local.get $2
+  local.get $4
   call $~lib/string/String.__eq
   i32.eqz
   if
@@ -6113,62 +6169,60 @@
    call $~lib/builtins/abort
    unreachable
   end
-  i32.const 3952
-  local.set $2
   global.get $~lib/memory/__stack_pointer
-  local.get $2
-  i32.store offset=8
-  local.get $2
-  i32.const 1
   local.get $0
   i32.const 0
   call $~lib/number/F64#toString
-  local.set $2
-  global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.tee $2
   i32.store offset=16
-  local.get $2
-  call $~lib/staticarray/StaticArray<~lib/string/String>#__uset
-  i32.const 3952
-  local.set $2
   global.get $~lib/memory/__stack_pointer
-  local.get $2
-  i32.store offset=8
-  local.get $2
-  i32.const 3
   local.get $1
   i32.const 0
   call $~lib/number/F64#toString
-  local.set $2
+  local.tee $3
+  i32.store offset=20
+  i32.const 3952
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
-  i32.store offset=16
+  local.get $4
+  i32.store offset=8
+  local.get $4
+  i32.const 1
   local.get $2
   call $~lib/staticarray/StaticArray<~lib/string/String>#__uset
   i32.const 3952
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=8
-  local.get $2
+  local.get $4
+  i32.const 3
+  local.get $3
+  call $~lib/staticarray/StaticArray<~lib/string/String>#__uset
+  i32.const 3952
+  local.set $4
+  global.get $~lib/memory/__stack_pointer
+  local.get $4
+  i32.store offset=8
+  local.get $4
   i32.const 160
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=12
-  local.get $2
+  local.get $4
   call $~lib/staticarray/StaticArray<~lib/string/String>#join
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store
-  local.get $2
+  local.get $4
   i32.const 4000
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=4
-  local.get $2
+  local.get $4
   call $~lib/string/String.__eq
   i32.eqz
   if
@@ -6180,7 +6234,7 @@
    unreachable
   end
   global.get $~lib/memory/__stack_pointer
-  i32.const 20
+  i32.const 24
   i32.add
   global.set $~lib/memory/__stack_pointer
  )
@@ -6452,8 +6506,10 @@
   (local $0 i32)
   (local $1 i32)
   (local $2 i32)
+  (local $3 i32)
+  (local $4 i32)
   global.get $~lib/memory/__stack_pointer
-  i32.const 28
+  i32.const 32
   i32.sub
   global.set $~lib/memory/__stack_pointer
   call $~stack_check
@@ -6467,8 +6523,8 @@
   i64.const 0
   i64.store offset=16
   global.get $~lib/memory/__stack_pointer
-  i32.const 0
-  i32.store offset=24
+  i64.const 0
+  i64.store offset=24
   global.get $~lib/memory/__stack_pointer
   i32.const 0
   i32.const 1
@@ -6483,17 +6539,17 @@
   i32.store offset=4
   local.get $0
   call $templateliteral/Ref#toString
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=8
-  local.get $2
+  local.get $4
   i32.const 4336
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=12
-  local.get $2
+  local.get $4
   call $~lib/string/String.__eq
   i32.eqz
   if
@@ -6506,30 +6562,30 @@
   end
   local.get $0
   call $templateliteral/Ref#toString
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=16
-  local.get $2
+  local.get $4
   local.get $1
   call $templateliteral/Ref#toString
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=20
-  local.get $2
+  local.get $4
   call $~lib/string/String#concat
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=8
-  local.get $2
+  local.get $4
   i32.const 4368
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=12
-  local.get $2
+  local.get $4
   call $~lib/string/String.__eq
   i32.eqz
   if
@@ -6540,72 +6596,238 @@
    call $~lib/builtins/abort
    unreachable
   end
-  i32.const 4416
-  local.set $2
   global.get $~lib/memory/__stack_pointer
-  local.get $2
-  i32.store offset=16
-  local.get $2
-  i32.const 1
   local.get $0
   call $templateliteral/Ref#toString
-  local.set $2
-  global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.tee $2
   i32.store offset=24
+  global.get $~lib/memory/__stack_pointer
+  local.get $1
+  call $templateliteral/Ref#toString
+  local.tee $3
+  i32.store offset=28
+  i32.const 4416
+  local.set $4
+  global.get $~lib/memory/__stack_pointer
+  local.get $4
+  i32.store offset=16
+  local.get $4
+  i32.const 1
   local.get $2
   call $~lib/staticarray/StaticArray<~lib/string/String>#__uset
   i32.const 4416
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=16
-  local.get $2
+  local.get $4
   i32.const 3
-  local.get $1
-  call $templateliteral/Ref#toString
-  local.set $2
-  global.get $~lib/memory/__stack_pointer
-  local.get $2
-  i32.store offset=24
-  local.get $2
+  local.get $3
   call $~lib/staticarray/StaticArray<~lib/string/String>#__uset
   i32.const 4416
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=16
-  local.get $2
+  local.get $4
   i32.const 160
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=20
-  local.get $2
+  local.get $4
   call $~lib/staticarray/StaticArray<~lib/string/String>#join
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
-  local.get $2
+  local.get $4
   i32.store offset=8
-  local.get $2
+  local.get $4
   i32.const 4464
-  local.set $2
+  local.set $4
   global.get $~lib/memory/__stack_pointer
+  local.get $4
+  i32.store offset=12
+  local.get $4
+  call $~lib/string/String.__eq
+  i32.eqz
+  if
+   i32.const 0
+   i32.const 96
+   i32.const 53
+   i32.const 3
+   call $~lib/builtins/abort
+   unreachable
+  end
+  global.get $~lib/memory/__stack_pointer
+  i32.const 32
+  i32.add
+  global.set $~lib/memory/__stack_pointer
+ )
+ (func $templateliteral/RecursiveObject#toString (param $0 i32) (result i32)
+  (local $1 i32)
+  (local $2 i32)
+  (local $3 i32)
+  (local $4 i32)
+  global.get $~lib/memory/__stack_pointer
+  i32.const 20
+  i32.sub
+  global.set $~lib/memory/__stack_pointer
+  call $~stack_check
+  global.get $~lib/memory/__stack_pointer
+  i64.const 0
+  i64.store
+  global.get $~lib/memory/__stack_pointer
+  i64.const 0
+  i64.store offset=8
+  global.get $~lib/memory/__stack_pointer
+  i32.const 0
+  i32.store offset=16
+  global.get $~lib/memory/__stack_pointer
+  local.get $0
+  i32.load offset=4
+  local.tee $1
+  i32.store
+  local.get $1
+  i32.eqz
+  if
+   local.get $0
+   i32.load
+   local.set $4
+   global.get $~lib/memory/__stack_pointer
+   i32.const 20
+   i32.add
+   global.set $~lib/memory/__stack_pointer
+   local.get $4
+   return
+  end
+  global.get $~lib/memory/__stack_pointer
+  local.get $0
+  i32.load
+  local.tee $2
+  i32.store offset=4
+  global.get $~lib/memory/__stack_pointer
+  local.get $1
+  call $templateliteral/RecursiveObject#toString
+  local.tee $3
+  i32.store offset=8
+  i32.const 4592
+  local.set $4
+  global.get $~lib/memory/__stack_pointer
+  local.get $4
+  i32.store offset=12
+  local.get $4
+  i32.const 1
   local.get $2
+  call $~lib/staticarray/StaticArray<~lib/string/String>#__uset
+  i32.const 4592
+  local.set $4
+  global.get $~lib/memory/__stack_pointer
+  local.get $4
+  i32.store offset=12
+  local.get $4
+  i32.const 3
+  local.get $3
+  call $~lib/staticarray/StaticArray<~lib/string/String>#__uset
+  i32.const 4592
+  local.set $4
+  global.get $~lib/memory/__stack_pointer
+  local.get $4
+  i32.store offset=12
+  local.get $4
+  i32.const 160
+  local.set $4
+  global.get $~lib/memory/__stack_pointer
+  local.get $4
+  i32.store offset=16
+  local.get $4
+  call $~lib/staticarray/StaticArray<~lib/string/String>#join
+  local.set $4
+  global.get $~lib/memory/__stack_pointer
+  i32.const 20
+  i32.add
+  global.set $~lib/memory/__stack_pointer
+  local.get $4
+ )
+ (func $templateliteral/test_recursive
+  (local $0 i32)
+  (local $1 i32)
+  (local $2 i32)
+  (local $3 i32)
+  global.get $~lib/memory/__stack_pointer
+  i32.const 20
+  i32.sub
+  global.set $~lib/memory/__stack_pointer
+  call $~stack_check
+  global.get $~lib/memory/__stack_pointer
+  i64.const 0
+  i64.store
+  global.get $~lib/memory/__stack_pointer
+  i64.const 0
+  i64.store offset=8
+  global.get $~lib/memory/__stack_pointer
+  i32.const 0
+  i32.store offset=16
+  global.get $~lib/memory/__stack_pointer
+  i32.const 0
+  i32.const 4528
+  local.set $3
+  global.get $~lib/memory/__stack_pointer
+  local.get $3
+  i32.store
+  local.get $3
+  i32.const 0
+  call $templateliteral/RecursiveObject#constructor
+  local.tee $0
+  i32.store offset=4
+  global.get $~lib/memory/__stack_pointer
+  i32.const 0
+  i32.const 64
+  local.set $3
+  global.get $~lib/memory/__stack_pointer
+  local.get $3
+  i32.store
+  local.get $3
+  local.get $0
+  call $templateliteral/RecursiveObject#constructor
+  local.tee $1
+  i32.store offset=8
+  global.get $~lib/memory/__stack_pointer
+  i32.const 0
+  i32.const 32
+  local.set $3
+  global.get $~lib/memory/__stack_pointer
+  local.get $3
+  i32.store
+  local.get $3
+  local.get $1
+  call $templateliteral/RecursiveObject#constructor
+  local.tee $2
   i32.store offset=12
   local.get $2
+  call $templateliteral/RecursiveObject#toString
+  local.set $3
+  global.get $~lib/memory/__stack_pointer
+  local.get $3
+  i32.store offset=16
+  local.get $3
+  i32.const 4640
+  local.set $3
+  global.get $~lib/memory/__stack_pointer
+  local.get $3
+  i32.store
+  local.get $3
   call $~lib/string/String.__eq
   i32.eqz
   if
    i32.const 0
    i32.const 96
-   i32.const 53
+   i32.const 118
    i32.const 3
    call $~lib/builtins/abort
    unreachable
   end
   global.get $~lib/memory/__stack_pointer
-  i32.const 28
+  i32.const 20
   i32.add
   global.set $~lib/memory/__stack_pointer
  )
@@ -7167,4 +7389,38 @@
   global.set $~lib/memory/__stack_pointer
   local.get $2
  )
+ (func $templateliteral/RecursiveObject#constructor (param $0 i32) (param $1 i32) (param $2 i32) (result i32)
+  (local $3 i32)
+  global.get $~lib/memory/__stack_pointer
+  i32.const 4
+  i32.sub
+  global.set $~lib/memory/__stack_pointer
+  call $~stack_check
+  global.get $~lib/memory/__stack_pointer
+  i32.const 0
+  i32.store
+  local.get $0
+  i32.eqz
+  if
+   global.get $~lib/memory/__stack_pointer
+   i32.const 8
+   i32.const 5
+   call $~lib/rt/itcms/__new
+   local.tee $0
+   i32.store
+  end
+  local.get $0
+  local.get $1
+  call $templateliteral/RecursiveObject#set:key
+  local.get $0
+  local.get $2
+  call $templateliteral/RecursiveObject#set:val
+  local.get $0
+  local.set $3
+  global.get $~lib/memory/__stack_pointer
+  i32.const 4
+  i32.add
+  global.set $~lib/memory/__stack_pointer
+  local.get $3
+ )
 )