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AI Sector Sees Sell-Off as Indian IT Stocks Surge with Biggest Single-Day Gain in 17 Months
5 day ago /
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Author：小编
Asian chip stocks decline with capital flowing into AI safe-haven trades, Indian software service sector stocks are poised for their biggest gain in 17 months. The Nifty IT index on the National Stock Exchange of India rose as much as 4.9%, led by HCL Technologies and Tata Consultancy Services. Broadcom CEO likened AI investments to casino bets, prompting a more than 5% drop in South Korea's benchmark KOSPI, which is concentrated in chip stocks. Allen Richardson, a portfolio manager at Samsung Asset Management, stated that while Indian IT stocks rebound when the AI rally falters, this alone is insufficient to attract foreign capital inflows without sustained improvements in earnings and stock prices.
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