China’s DeepSeek Set to Join AI Fundraising Frenzy | The China Show 6/4/2026

Watch on YouTube ↗  |  June 04, 2026 at 05:25  |  1:31:48  |  Bloomberg Markets
Speakers
Pierre Lau — Citi Research China Equity Strategist
Ray Dalio — Founder, Bridgewater Associates

Summary

The China Show covers a risk-off day in Asian markets driven by Broadcom's disappointing AI revenue forecast and renewed Middle East tensions. DeepSeek is close to raising $7B from Tencent and CATL, while SpaceX files for a record $75B IPO. Citi's Pierre Lau recommends selective exposure to China machinery, copper/aluminum, and insurance, while cautioning on consumer discretionary.

  • Asian stocks fall as Broadcom's weak AI guidance weighs on tech sentiment.
  • DeepSeek nears $7.4 billion fundraising from Tencent, CATL, and state-backed fund.
  • SpaceX files for $75B IPO with fixed price of $35 per share; Elon Musk retains 84.4% voting power.
  • Indonesia's rupiah breaches 18,000 per dollar, JCI hits 5-year low on currency and fiscal concerns.
  • Bitcoin extends decline to five days, dipping below $62,000 after MicroStrategy sells a small Bitcoin position.
  • Citi's Pierre Lau upgrades China insurance to overweight, citing equity gains and deposit migration.
  • Lau is most positive on copper, aluminum, and machinery as export-theme beneficiaries.
  • US proposes new tariffs on 60 economies including China; Bloomberg Economics sees limited impact.
Trade Ideas
Pierre Lau Citi Research China Equity Strategist 28:35
China machinery sector is key
Machinery is the key investment thesis for China's export theme. China's export is migrating to high-end products, machinery accounts for a large share, and China has a unique full value chain in industrial production that is difficult to replicate elsewhere.
China machinery sector MED
Pierre Lau Citi Research China Equity Strategist 30:39
Positive on copper and aluminum
We are most positive on basic materials like copper and aluminum because they benefit from the AI-driven demand and supply constraints. China has a full value chain and export is shifting to high-end products, supporting these commodities.
COPPER Aluminum MED
Pierre Lau Citi Research China Equity Strategist 32:38
Overweight Chinese insurance sector
We upgraded insurance to overweight. Two reasons: insurance companies will benefit from increased investment gains from the equity market, especially tech; and due to low interest rates in China, we expect a migration from bank deposits into insurance products, which is favorable for insurers.
China insurance sector HIGH
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This Bloomberg Markets video, published June 04, 2026, features Pierre Lau discussing China machinery sector, COPPER, Aluminum, China insurance sector. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Pierre Lau  · Tickers: China machinery sector, COPPER, Aluminum, China insurance sector