AI Trade Appears to Have Moved from Leadership Toward Liquidation in Parts of Asia

Dow Jones15:55

0755 GMT - The AI trade has moved from a leadership position toward liquidation in parts of Asia, says Patrick Munnelly at Tickmill Group in a note. South Korean shares extended losses Wednesday, dragging the benchmark Kospi into a bear market. Investors are continuing to dump crowded semiconductor exposure after the historic rally, the market strategy partner says in a note. While investors are trying to separate the broader AI story from the semiconductor unwind, it could be harder moving forward. Markets are grappling with a geopolitical supply shock layered on top of stretched tech positioning and sticky inflation expectations, he adds. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

July 08, 2026 03:55 ET (07:55 GMT)

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While investors are trying to separate the broader AI story from the semiconductor unwind, it could be harder moving forward. Markets are grappling with a geopolitical supply shock layered on top of stretched tech positioning and sticky inflation expectations, he adds. 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South Korean shares extended losses Wednesday, dragging the benchmark Kospi into a bear market. Investors are continuing to dump crowded semiconductor exposure after the historic rally, the market strategy partner says in a note. While investors are trying to separate the broader AI story from the semiconductor unwind, it could be harder moving forward. Markets are grappling with a geopolitical supply shock layered on top of stretched tech positioning and sticky inflation expectations, he adds. 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