SK Hynix Inc000660
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SK Hynix IncFinancials
UBS Group AGUBSG
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SK Hynix IncUBS Group AGUBS says fear of missing out on a bull market rally has been the key recent driver of US market gains, particularly for artificial intelligence stocks. The wealth management arm of the Swiss bank noted that a leveraged exchange-traded fund linked to Korean chipmaker SK Hynix has become the largest fund tied to a single stock, holding more than $10 billion. Jason Draho, UBS's head of asset allocation for the Americas, argued that the economic backdrop should keep the bull market running, with most estimates putting US growth at an annualised 2.5% to 3% in the second quarter and a national average petrol price below $4 a gallon suggesting inflation has probably peaked. He described the regime as reflationary and more likely to soften into steady, low-inflation growth than to stagnate, while playing down concerns about the Federal Reserve after a hawkish policy meeting. Draho said the US equity rally ultimately depends on AI meeting the high expectations priced into markets, though investor positioning is elevated but not extreme.
SK Hynix IncUBS Group AG