Winnie Sue discusses the rotation from US semiconductor stocks into financials and healthcare, noting South Korea's KOSPI is dragged down by Samsung and SK Hynix. She highlights Japan's AI supply chain beneficiaries like Taiyo Yuden and Murata, and sees a BOJ rate hike as likely given strong wage data and yen weakness. She also notes concern that US mega IPOs could pull capital from Asian markets.

George Baboris sees the broadening out of the AI rally into midcaps, financials, utilities, and healthcare as the key trade. He believes AI earnings justify valuations. He prefers Nikkei, KOSPI on retracement, Singapore, and Australia, while shorting Indonesia and avoiding India due to lack of reform. He expects structurally weaker Asian currencies with intermittent intervention, especially for the yen.