As Korea Tumbles, Goldman Tells Clients To Rotate To "China AI Value Chain"

An AI rotation trade is accelerating in Asia as investors pull money from the chipmakers that powered this year’s rally (read the couple of names that are responsible for most of the Kospi's gains this year) and hunt for cheaper ways to play the technology boom (in China). 

The shift pushed the Kospi Index to a technical bear market overnight, after gains that made it the world’s best-performing major benchmark in 2026.