Hong Hao: AI Stock Correction Far from Over, Rotation of Funds from Overheated Sectors to Oversold Sectors Not Yet Complete
BlockBeats News, July 23, Renowned economist Hong Hao recently expressed his views, stating that the current AI sector stock pullback is a continuation adjustment (not the end). Observing the South Korean KOSPI index, the overall sector adjustment is far from complete. Stock prices have already excessively reflected the fundamentals in advance, and technical adjustments will continue. Short-term volatility is significant, with the trend temporarily leaning towards a downturn.
Hong Hao believes that market funds are rotating from the overheated AI/semiconductor and other new technology sectors to the previously neglected old economy/old technology sectors (such as Tencent, Alibaba, Meituan, and other Internet giants have seen significant gains). Logically, if one is optimistic about AI's contribution to productivity improvement, one should be optimistic about the old economy (as economic growth will ultimately drive consumption), expecting a broad-based rise rather than localized speculation.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Sony (SONY.US) to miss the 2027 CES after dissolving joint venture with Honda (HMC.US), shifts focus to entertainment content
Sony Group (SONY.US) will not participate in the 2027 International Consumer Electronics Show (CES), ending its decades-long history of attending this major electronics event in Las Vegas. Instead, the company will shift its focus more towards its entertainment content business.
Intervention risk rises again! After signals from Japan and the US, Japan's top foreign exchange official warns: the market should take this seriously
Jun Azumi stated on Monday that the market should take seriously the "very clear" message about the yen issued last week by Tokyo and Washington. His remarks signal his readiness to take action to curb excessive depreciation of the yen.
Barrick Mining (B.US) reaches collective agreement with Mali gold miners' union, strike threat lifted
Barrick Mining has reached an agreement with the Mali Gold Miners Union, alleviating the threat of a strike.
Crypto prices
More
