Bloomberg Daybreak: Asia Edition
Asian Stocks Rise on Fed Rate Cut Optimism
Jul 17, 2024
Guests David Chao, Mike Dickson, and Minxin Pei discuss market sentiment shift towards AI technology, Japan equity momentum trade, China's third plenum, election impact on asset allocation, differing views on China and Taiwan, and US-China relations in the podcast.
21:54
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Quick takeaways
- AI's market impact is slow but long-term dominant; Japan's selective equities show potential benefits.
Deep dives
Impacts of AI on Markets and Earnings
The podcast discusses the impacts of artificial intelligence (AI) on markets and earnings. The speaker believes that the AI euphoria is currently taking a break as expected productivity gains from AI have not been fully realized yet. Historical tech innovations like the steam engine took time to show economic gains, suggesting that AI effects may also take longer. Despite the current plateau, the speaker maintains a long-term belief in AI's dominance in the market.
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