Vasu Menon

The AI sector is a multi-year secular growth theme with double-digit earnings potential and significant adoption runway (currently ~50% vs 90% for internet). Hyperscaler spending remains robust. The recommended strategy is to use US tech as the core AI allocation, while diversifying across South Korean, Japanese, and Chinese tech to capture regional AI momentum and spread volatility risk. Chinese tech, despite macro headwinds, presents opportunities as local AI models become globally competitive.

Vasu Menon is positive on China and Hong Kong equities, citing the technology and AI sector catching up with US hyperscalers, strong government balance sheets and oil reserves to support the economy, and innovation narrowing the gap despite expensive valuations. He sees medium-term upside driven by tech innovation and domestic demand policies.