JPMorgan cuts Polymarket banking ties over regulatory concerns: Report

JPMorgan Chase and HSBC: Market pullbacks provide a window for investment, not a trend reversal.

According to BlockBeats, on July 6th, as we enter the second half of the year, several Wall Street institutions believe that the recent market correction is more of a repositioning opportunity than a trend reversal. Both JPMorgan Chase and HSBC Holdings believe that short-term volatility in global stock markets will not change the overall upward outlook, but the two institutions differ in their specific allocation strategies. Mislav Matejka, Head of Global and European Equity Strategy at JPMorgan Chase, and his team stated that they have maintained a "buy on dips" view since the outbreak of the Iranian conflict. The bank believes that the global economy remains resilient, the situation in the Middle East has not significantly damaged economic growth, and central banks have not shifted to more aggressive tightening policies. Strategists expect that global and emerging market stock markets are likely to reach new highs in the future, and believe that the attractiveness of international markets is increasing. They also believe that the South Korean market, after its recent correction, is worth buying on dips. In terms of sectors, JPMorgan Chase believes that the Philadelphia Semiconductor Index has presented another buying opportunity after the recent correction, but remains relatively cautious about large-cap US technology stocks. The bank advises caution regarding AI-driven sectors, including software, business services, and media. Conversely, the basic resources sector has regained its investment value after recent adjustments, and gold is becoming more attractive. Strategists also point out that overall investor positioning remains cautious, with the market holding substantial cash reserves. If a summer correction occurs, funds are expected to flow back into the stock market. Max Kettner, Head of Multi-Asset Strategy at HSBC Holdings, is more focused on the recovery opportunities in leading AI companies. He stated that the market is entering its summer rally in July and August, and AI hyperscale cloud service providers have already experienced a cumulative correction of approximately 20%, which is considered excessive. Kettner believes that current market expectations for these companies' earnings have been significantly lowered, and these companies still maintain strong profitability. If they can prove that their massive AI capital expenditures are gradually translating into revenue, it will further drive valuation recovery.