Can the Asia Equity Rally Continue?

North Asia currently sits at the center of global geopolitics and market activity, driven by the intersection of the AI semiconductor super-cycle and shifting regional economic dynamics. The recent Trump-Xi summit provided a stabilizing "no harm done" outcome, though Chinese equity markets remain bifurcated; onshore A-shares benefit from manufacturing-led earnings growth, while offshore H-shares lag due to weak internet sector performance. Meanwhile, Korea and Taiwan lead regional performance, capitalizing on intense demand for memory chips, which is expected to persist despite short-term overbought conditions. Japan remains an attractive investment destination, supported by political stability, corporate governance reforms, and the "HALO" (heavy assets, low obsolescence) trade. While North Asia has remained relatively insulated from Middle East energy shocks compared to South Asia, ongoing monitoring of energy supply chains and tech-sector volatility remains critical for sustaining this momentum.