Saxo Bank analyst Charu Chanana said a decisive Democratic win in the US
midterms has intensified concerns about tighter regulation of big tech, stronger
AI oversight and the prospect of reduced fiscal stimulus—placing extra downward
pressure on Asian tech equities, notably Taiwan and South Korea where
semiconductors have large index weights. She said weakness is spreading through
the AI supply chain but underlying demand for advanced chips remains intact,
suggesting a re-pricing of expectations rather than a breakdown of the AI growth
story. Chanana warned there is scope for further declines and advised against
indiscriminate dip-buying; she urged investors to separate firms that fund AI
infrastructure from suppliers of critical technologies and said long-term
investors can selectively add on weakness.
