Chinese techs are severely beaten down since the end of last year and the valuation gap to their US peers are significantly wide. As a matter of opinion, I believe they are roped enough for institutions to take profits for the narrow US AI chips and semis trade and rotate here for a ride up. However, do take note that narratives would likely alternate between the markets to let the retail hold the bags while they switch their runways back and forth.

Longbridge - Captain's Watch
Captain's Watch

☕️ [Task Coins Giveaway] Daily Market Talk — China Tech Roars Back

Money rotated hard out of US AI hardware and into China tech. Alibaba ripped 11%, dragging the whole China complex up while US chips wobbled. Meanwhile the Fed minutes flagged AI itself as an inflatio...

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