Citi says bubble focus shifted to semiconductors and Kospi

Analyst
โดย Investing.com·GLOBAL·Read original
Summary · why it matters

Citi told clients that investor attention around asset bubbles has moved away from U.S. large-cap benchmarks and toward chipmakers and South Korean stocks. The bank said the SOX semiconductor index rose 88% in the second quarter of 2026, an all-time record, while the Kospi gained 84% over the same period, also a record. Applying its methodology, which requires an asset to rise more than two standard deviations above trend in real terms, Citi said the bubble condition has triggered for SOX, having been met in April. The bank noted the two previous episodes in 2000 and 2020, when the SOX lost 43% and 23% respectively of the gains made during the bubble by the time it exited. Citi concluded that since the SOX has not yet exited, the bubble methodology itself does not give a meaningful warning signal at this stage.

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