- 15 June 2026
The AI cycle is evolving. How can investors capture productivity gains?
- PROFESSIONAL INVESTORS
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- 15.06.26
Global equity markets extended their gains in May, with most major indices delivering mid-to-high single-digit returns. Japan led performance, with the Nikkei 225 rising 11.9%, while China and Hong Kong were notable exceptions. Markets remained resilient despite elevated geopolitical uncertainty, higher oil prices, inflation concerns and ongoing debate around monetary policy.
Encouragingly, market leadership has been supported by earnings delivery, with AI beneficiaries continuing to deliver strong results and support upward revisions to earnings expectations. However, the market narrative is evolving. What began as a narrow rally led by a handful of technology companies is broadening into a wider opportunity set.
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