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UBS: Overall Market Positive but Sector Divergence Wide; No Bubble Seen in AI
Eric Lin, Head of Asia-Pacific Research at UBS Global Research, said high oil prices primarily affect industries such as aviation and transportation. However, he is relatively opti...
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UBS: Overall Market Positive but Sector Divergence Wide; No Bubble Seen in AI
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Eric Lin, Head of Asia-Pacific Research at UBS Global Research, said high oil prices primarily affect industries such as aviation and transportation. However, he is relatively optimistic about sectors that are more sensitive to interest rates, including real estate, financial services, banking, brokerage and insurance. In addition, sectors such as new energy and electric vehicles are also supported by mainland China policies.

He concluded that the overall market outlook is positive, but sector divergence is significant. In terms of AI, UBS is more optimistic about upstream supply chain segments such as hardware, semiconductors and chips. However, due to intense competition in downstream segments, UBS maintains a wait-and-see stance.

Related NewsExports YoY for Apr in China is 14.1%, higher than the previous value of 2.5%. The forecast was 7.9%.
Regarding market concerns about a potential bubble in AI, he noted that share prices of certain companies have declined due to relatively high valuations or the end of lock-up periods. While individual stocks may face correction risks, no industry-wide bubble has been observed so far. (sl/u)

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