Asian Stocks Gain as Tech Rebounds

The Daybreak Asia podcast analyzes recent market trends and economic developments, focusing on equity market performance in Japan and the U.S. The podcast explores the factors driving market behavior, such as expectations for fiscal spending and the impact of AI on software businesses. Ross Mayfield from Baird discusses the potential overreaction to AI's disruption of software companies, suggesting that the recent sell-off may be overdone. The conversation shifts to Alphabet's $20 billion bond offering to finance AI infrastructure, signaling a change from asset-light to asset-heavy for big tech. Carie Li from DBS discusses the dollar debasement trade, the potential for renminbi strength, and the outlook for the Japanese yen amid verbal intervention.