CHINA RECORDED 325 MILLION DOMESTIC TRIPS DURING MAY GOLDENWEEK HOLIDAY, UP 3.6% YOY, WITH TOTAL SPENDING OF 185.492BN YUAN, UP 2.9%

Citi lifted its KOSPI target from 7,000 to 8,500, citing semiconductor-driven earnings growth, fiscal stimulus, and corporate value reforms. It projects FY earnings growth of 177% YoY, supported by strong memory chip demand, customization trends, and long-term supply agreements.

The artificial intelligence boom may be nearing a slowdown amid rising costs, potentially weighing on Asia-Pacific export growth, Moody’s Analytics says. The AI upswing has helped offset pressure from higher U.S. tariffs on the region’s exports, it notes. However, stretched equity valuations, rising prices, and selective hardware shortages suggest the cycle is “increasingly ripe for a pause,” it adds. The Middle East conflict has further lifted geopolitical and trade risks for Asia-Pacific economies. Moody’s warns that the mix of higher inflation, trade and supply-chain disruptions, and elevated asset valuations raises the risk of policy missteps across the region.