“Now, the AI story can continue, there might be more growth and these sorts of things, but on the margin, I think it’s going to be about what other growth stories are there in Asia.”
The AI investment theme has kept investors excited for the last couple of years, minting record valuations for stocks with an AI angle. However, going into 2026, AI will not be the only growth story, says Herald van der Linde, HSBC’s head of Asia equity strategy.
“We have now well invested in AI in Asia. In some of these markets, people have really accumulated large positions,” van der Linde tells his co-host Fred Neumann, HSBC’s chief Asia economist, in their podcast “Under the Banyan Tree” on Nov 20.
