Traders Deal With 'Chip-Wreck' on AI Fears | The Asia Trade 6/24/2026

Watch on YouTube ↗ | June 24, 2026 at 06:12 | 1:35:01 | Bloomberg Markets

Speakers

Adam — Geoeconomics Analyst

Paul Gambles — MBMG Group, Co-founder and Managing Partner

Jonathan Zhu — Greater China Chairman, Bain Capital

Roland Busch — President and CEO, Siemens

Gary Gensler — Former SEC Chairman

Anthony Stevens — Bloomberg Market Producer

Norah Mulinda — Market Reporter, Bloomberg

Sharon Chan — Bloomberg Intelligence Analyst

Reynolds — Market Analyst

Summary

Bloomberg's The Asia Trade covers a sharp global tech selloff sparked by Korean chipmakers and AI valuation fears. The program features analysis of the chip wreck, SpaceX's cautious bond debut, MSCI's delayed Indonesia review, and China's consumption worries. Interviews with Bain Capital's Jonathan Zhu, Siemens CEO Roland Busch, and portfolio manager Paul Gambles offer sector views, while former SEC Chair Gary Gensler warns of an AI reckoning.

Korean chip stocks plunge on SK Hynix DRAM shift fears, triggering a global AI revaluation
SpaceX sells $25B in bonds but pays a significant premium as investors show skepticism
MSCI keeps South Korea in EM status and delays Indonesia's market review, flagging downgrade risk
PBOC adviser warns on China's unbalanced growth; Premier Li Qiang to address consumption at Summer Davos
Bain Capital sees opportunity in Chinese tech hardware, renewables, and biotech
Siemens CEO says industrial AI is delivering measurable factory-floor productivity gains
Paul Gambles calls the AI bubble the worst in history and favours value stocks, Chinese bonds, and avoiding gold
Gary Gensler sees a high chance of an AI valuation reckoning from overfunded infrastructure and IPOs

Ideas

Adam Geoeconomics Analyst 10:55

Indonesia faces MSCI downgrade risk.

MSCI postponed its review of Indonesia's market status, but the threat of a downgrade from emerging market to frontier status still hangs over Indonesian equities. This adds to unease about the direction of the government and markets, which have already fared worse than almost everywhere else in Asia, putting $13 billion in investment at risk.

Jonathan Zhu Greater China Chairman, Bain Capital 33:30

China tech hardware is strong.

China's electronics industry and technology hardware value chain are areas of clear strength. Valuations in some segments are still reasonable, and Bain is actively looking for investments in this space as it benefits from AI advancement.

Jonathan Zhu Greater China Chairman, Bain Capital 34:13

China renewable energy benefits from policy.

China's renewable energy sector offers many interesting businesses, supported by strong government policy, significant innovation, and the country's push into renewables. Bain is focused on this area as a long-term opportunity.

Jonathan Zhu Greater China Chairman, Bain Capital 34:31

China biotech is global innovation center.

China has grown into one of the global centers of biotech innovation over the past decade. Bain sees this as a very focused area, investing in businesses benefiting from this deep innovation ecosystem.

Roland Busch President and CEO, Siemens 39:32

Siemens AI boosts factory productivity.

Siemens is uniquely positioned to bring AI to the factory floor with its technology stack, domain data, and customer trust. Real-world applications such as an AI-powered engineering agent already show 50% productivity improvements and 80% higher programming quality, proving the value of industrial AI.

Paul Gambles MBMG Group, Co-founder and Managing Partner 55:42

AI bubble worst ever, will burst.

The AI bubble is by far the biggest stock market bubble in history, far worse than the 2000 tech wreck, both in scale and scope and in the amount of leverage. It has much further to go, and a major downturn is inevitable. The current selloff may be a false alarm or the beginning, but the risk of a large drawdown is very high.

Paul Gambles MBMG Group, Co-founder and Managing Partner 57:24

Rotation into value stocks ahead.

As the AI/tech selloff continues, a rotation into value stocks will unfold. The portfolio has already been reducing equity exposure and using long-short positions, and value should benefit from the shift in sentiment.

Paul Gambles MBMG Group, Co-founder and Managing Partner 57:32

Gold not safe, avoid for now.

Gold has stopped behaving like a safe haven and is now much more correlated with tech stocks and market activity. The portfolio has almost completely exited gold since the turn of the year because it no longer provides the safe-haven property investors expect.

Paul Gambles MBMG Group, Co-founder and Managing Partner 68:12

China bonds only truly safe asset.

Chinese government bonds have become the only genuinely safe global asset. They stand apart from other emerging-market and Asian bonds, offering a stable haven amid global uncertainty.

Gary Gensler Former SEC Chairman 85:56

AI valuation reckoning likely near.

Markets have funded a huge AI infrastructure build, with IPOs like SpaceX and eventually Anthropic or OpenAI demanding absorption. Valuations at 100–140x revenue with no earnings are extreme. There is an equal or better chance that six months from now selling by venture and sovereign funds puts not just SpaceX but the whole market under pressure, triggering a reckoning.

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This Bloomberg Markets video, published June 24, 2026, features Adam, Jonathan Zhu, Roland Busch, Paul Gambles, Gary Gensler discussing Indonesia equities, CHIQ, Chinese renewable energy, Chinese biotech, SIEMENS, AI and semiconductor stocks, Value stocks, GLD, CBON, US AI and tech sector. 10 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Adam, Jonathan Zhu, Roland Busch, Paul Gambles, Gary Gensler · Tickers: Indonesia equities, CHIQ, Chinese renewable energy, Chinese biotech, SIEMENS, AI and semiconductor stocks, Value stocks, GLD, CBON, US AI and tech sector