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A Goldman Sachs research report points out that over the past three weeks, the divergence in the semiconductor sector's performance can explain about 54% of the performance dispersion across various assets, while oil prices can explain only 2%; the influence of semiconductor stocks on asset price movements has now surpassed that of oil prices. Goldman Sachs also stated that AI has become a powerful force in financial markets, and the correlation between investor sentiment and tech stocks continues to strengthen. The report mentioned that after Anthropic submitted its IPO application, the Nasdaq and the S&P 500 both rose about 1%, the Philadelphia Semiconductor Index rose about 3%, and the rally subsequently spread to Asian markets, with the KOSPI rising as much as 5% intraday. A Cailianshe report on the same day also noted that the South Korean stock market is notably sensitive to AI trades, memory chip stocks have approached half of the KOSPI's weighting, the KOSPI has fallen about 40% cumulatively from its June high, and Goldman Sachs cut its 12-month target from 12000 to 9000.
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Oct 27
Cailian Press
Goldman Sachs: Semiconductors' Influence on Financial Markets Now Far Exceeds Oil
A Goldman Sachs research report points out that over the past three weeks, semiconductor sector performance can explain about 54% of the performance differences across various assets, while oil prices explain only 2%. The South Korean stock market shows particularly prominent sensitivity to AI trades, with memory chip stocks approaching half of the KOSPI's weighting; the KOSPI has fallen about 40% cumulatively from its June high, and Goldman Sachs has lowered its 12-month target from 12000 to 9000.
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Goldman Sachs Says Semiconductor Sector's Influence on Asset Prices Has Surpassed Oil Prices
Goldman Sachs research shows that over the past three weeks, divergence in the semiconductor sector can explain about 54% of the performance divergence across various assets, while oil prices can explain only 2%. Goldman Sachs says AI has become a powerful force in financial markets, and investor sentiment is increasingly correlated with tech stocks. After Anthropic filed for an IPO, the Nasdaq and S&P 500 both rose about 1%, and the Philadelphia Semiconductor Index rose about 3%; the rally then spread to Asian markets, with the KOSPI rising as much as 5% during intraday trading.