Weekly Podcast and Snapshot

The Nasdaq is not the only game in town


The Nasdaq 100 has surged 21% year-to-date, driven not by the "Magnificent Seven" (up just 10%) but by the Semiconductor sector, which has soared 66% amid AI enthusiasm and strong earnings.

However, this rally is narrow, as the S&P 500 excluding tech has gained only 3%, while Europe’s Stoxx 600 has risen 8%, with sectors like Basic Resources (+33%), Energy (+29%), and Tech/Telecoms (+28%) outperforming the Nasdaq.

Beyond Europe, Emerging Markets (MSCI EM Index +24%), led by Taiwan and South Korea’s chipmakers, and Japan’s Nikkei 225 (+17%) have also delivered outstanding performances.

This highlights that diversification beyond US tech—into European industrials, Asian equities, and emerging markets—can deliver stronger, more balanced returns amid the AI-driven rally.





The Nasdaq is not the only game in town

In this podcast, Edmund Shing, Global Chief Investment Officer, discusses the technology sector and gives some investment ideas. 










Snapshot

In this article, Hiba Mouallem, Investment Strategist, analyzes and deeps dive into that subject including macroeconomic updates, sector performance, and strategic positioning.




Edmund Shing, Global Chief Investment Officer
Edmund Shing, Global Chief Investment Officer
03-06-2026
7 mins

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