Bloomberg Daybreak: Asia Edition Korea's Kospi Tumbles as Valuation Concerns Hit Tech Stocks
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Nov 5, 2025 Anna Wu, a cross-asset investment specialist at VanEck, discusses the struggles of Asian tech valuations and highlights opportunities in energy and nuclear sectors amid rising AI demand. Sandeep Malhotra, Executive VP at Mastercard, dives into how AI and tokenization are transforming payments in Asia, emphasizing fraud prevention and real-time transaction capabilities. He also reveals the importance of partnerships and adapting to evolving consumer behaviors in shaping the future of payments across the region.
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Asia Tech Still Cheaper Than US
- Asia's tech valuations trail the US despite recent AI rallies, offering a combined value-and-growth opportunity.
- EPS growth in Asian tech is improving quarter-to-quarter, supporting a constructive long-term outlook.
AI Drives A New Energy Demand Cycle
- The AI industry is moving from model experiments to operational, monetized systems requiring more energy.
- Energy plays, including nuclear and renewables, look positioned to benefit from rising AI-related power demand.
Korea's Dual Tailwinds
- South Korea combines AI hardware strengths with defense-related AI demand, creating a clean growth narrative.
- Earnings surprises there and long-term contracts support Korean market conviction.