Excerpt from CGS International report.

Report Summary

• Key Theme: North Asian technology indices are leading global equity markets, driven by ongoing semiconductor and AI hardware demand. Liquidity is hyper-concentrated in this sector.
• Actionable Insight: Tactically, broad macro-sensitive indices are being starved of capital as global liquidity flows into North Asian tech. Investors should focus on North Asian technology indices for potential upside.
• Indices and Technical Targets:
  • KOSPI: New peak at 238.25, strong uptrend.
  • TAIEX (TW50): New high at 134.58, strong uptrend.
  • Nikkei 225: Target 67,000. Support at 64,090 and 60,000. Major uptrend intact; bullish score 7/10.
  • CSI 300: Correction expected towards 4,700–4,650, but uptrend intact. Longer-term bullish score 7/10.
  • SET Index (Thailand): Target 1,636. Short-term bearish, mid-term upside; bullish score 7/10.
  • Hang Seng Index: Rangebound 25,000–26,000. Long-term uptrend channel intact; neutral score 5/10.
  • Jakarta Composite Index: Bearish pressure, nearing support at 6,000–5,570; weak sentiment, bearish score 4/10.
  • Dow Jones Industrial Average: Heading to 52,300 near-term; bullish long-term score 7/10.
  • Nasdaq 100: Support at 30,000 and 28,200. Mid- to long-term upside; bullish score 7/10.
• S&P 500 (SPX): Overextended, internal breadth weakening. Key support: 7,100–7,200; break below may trigger a sharp correction to 6,796–6,839.
• Action & Tactical Call: Focus on North Asian tech indices for upside. Exercise caution on S&P 500 due to weak breadth and potential for correction.

above is an excerpt from a report by CGS International. Clients of CGS International can be the first to access the full report from the CGS International website : https://www.cgs-cimb.com