J.P. Morgan shifts Asia strategy toward Taiwan tech amid AI
J.P. Morgan just updated its Asia investment game plan, putting more faith in Taiwan and the tech sector thanks to the AI boom and a tricky global economy.
The bank has bumped up its targets for Taiwan's stock market, spotlighting TSMC and Samsung as favorites because of their strong AI moves and rising hardware prices.
J.P. Morgan reshuffles Asia sector ratings
Utilities are now rated neutral as AI drives up power demand, but Consumer Discretionary and Communication Services got downgraded due to China's sluggish internet scene.
As for India, J.P. Morgan is taking a breather, downgrading Indian stocks to neutral over high prices and not enough AI exposure in big companies.
Still, they see promise in Indian Financials and Materials but are playing it safe with IT and Pharma for now.