Invesco APAC global markets strategist David Chao said Asian tech stocks began the week weak after a large U.S. semiconductor firm reported revenue below expectations and did not raise AI guidance, sparking U.S. equity selling. He said Asian tech is closely tied to the U.S. semiconductor cycle through shared supply chains and investor positioning, but a single quarterly miss does not signal an industry turning point. Markets had become overly reliant on continuously rising AI guidance. In Asia t

Invesco APAC global markets strategist David Chao said Asian tech stocks began the week weak after a large U.S. semiconductor firm reported revenue below expectations and did not raise AI guidance, sparking U.S. equity selling. He said Asian tech is closely tied to the U.S. semiconductor cycle through shared supply chains and investor positioning, but a single quarterly miss does not signal an industry turning point. Markets had become overly reliant on continuously rising AI guidance. In Asia the AI investment narrative is concentrated in a few Korean and Taiwanese names, increasing concentration risk and market fragility and amplifying volatility when a company disappoints or when demand or supply is disrupted.