On July 13, a previous rally of up to $1.8 trillion experienced by Asian chipmakers began to reverse, with investors reducing their investments in Asian chip stocks due to concerns over these companies' excessive weight in emerging market indices. Fund companies such as Fidelity International and BlackRock have expressed doubts about the sustainability of the bull market for stocks like SK Hynix and Samsung Electronics. Over the past six months, the total market capitalization of these three companies has nearly doubled, and they now collectively account for approximately 29% of the MSCI Emerging Markets Index, surpassing the weight of most individual countries. Caroline Shaw, a multi-asset portfolio manager at Fidelity International, pointed out that the excessive concentration in the index, coupled with increased leveraged bets on South Korean chip stocks leading to heightened stock price volatility, are signals that warrant caution. In the MSCI Emerging Markets Index, the weight of these three stocks is nearly three times the total weight of all Indian stocks, with SK Hynix alone accounting for more than the combined weight of Brazil and South Africa. Wei Li, Global Chief Investment Strategist at BlackRock Investment Institute, stated that given the intense volatility of some large chip and memory stocks, the institution has chosen to take profits at the current stage and reduce its overweight position in emerging market stocks.