Tech Volatility Spills Into Asia | The Asia Trade 6/26/2026

Summary

Bloomberg's "The Asia Trade" covers a volatile session with tech selloff spilling into Asia. Apple sinks after raising prices due to memory shortages, while Micron surges. A ship attack in the Strait of Hormuz revives oil transit risks. Tokyo inflation accelerates, complicating the Fed and BOJ outlook. Qualcomm's CEO lays out a bullish $15 billion data center vision. Interviews discuss favoring Korea and Japan equities, cautious on near-term tops, value in Hong Kong Chinese consumer stocks, and potential oil price war if Iraq leaves OPEC.

• US tech whipsaw: Micron up on strong demand, Apple down after product price hikes driven by memory chip shortages.
• A cargo ship struck by an unknown projectile in the Strait of Hormuz shatters expectations of a smooth reopening and lifts oil.
• Tokyo June CPI accelerates across headline, core, and core-core measures, reinforcing yen weakness near a 40-year low.
• Markets see Fed chair War as a hawk, but falling energy costs and soft inflation expectations support some optimism.
• Qualcomm CEO Cristiano Amon forecasts $15 billion in data center revenue by 2029, citing custom ASICs and new memory tech.
• Ameriprise's Nancy Daoud calls the tech pullback an incredible buying opportunity for long-term investors.
• South Korea's AI stock mania raises bubble fears as leverage surges and the KOSPI shows extreme volatility.
• Bank J. Safra Sarasin's Dong Chen favors Korea and Japan, especially financials, and sees value in undervalued Hong Kong Chinese consumer names.
• Oil reporter Nicholas Lua warns Iraq's frustration with OPEC could spark a price war, potentially pushing crude lower.