Sunday, July 14, 2024
HomeWorld newsAI frenzy draws stock traders to Southeast Asia's likely winners

AI frenzy draws stock traders to Southeast Asia’s likely winners

Equity investors are scouring Southeast Asia for alternatives to play the artificial intelligence theme, with tech giants set to spend billions of dollars on infrastructure spending in the coming years.

Energy producers are becoming favorites as more data centers are set up in the region, thanks to lower energy and land costs, analysts said. Companies in the information technology services, telecommunications and semiconductor sectors are also well positioned to benefit.

“Utilities and companies that provide electrification and grids are a lot more interesting to us,” says Kenneth Tang, portfolio manager at Nikko Asset Management.

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