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“When will the ‘AI-only rally’ reverse? Nomura offers three catalysts: US-Iran talks break down, US-Iran talks go too well, and call options are no longer being bought.”

“When will the ‘AI-only rally’ reverse? Nomura offers three catalysts: US-Iran talks break down, US-Iran talks go too well, and call options are no longer being bought.”

``` The current market consensus is highly concentrated, with AI technology stocks taking the lead. However, Nomura strategists warn that this extremely crowded positioning lays the groundwork for intense reversals. Nomura cross-asset strategist Charlie McElligott points out in his latest report that the current macro consensus in the market is unprecedentedly
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A-shares opened higher but moved lower, with all three major indices turning negative; real estate and brokerages were active, while chips and semiconductors corrected. The Hang Seng Tech Index fluctuated higher, and Lenovo Group rose another 20%.

A-shares opened higher but moved lower, with all three major indices turning negative; real estate and brokerages were active, while chips and semiconductors corrected. The Hang Seng Tech Index fluctuated higher, and Lenovo Group rose another 20%.

``` On May 29, A-shares fluctuated and fell back. The three major stock indexes all opened higher at the beginning of the session but then started to decline. Cultivated diamonds and superhard materials continued to surge, while electricity and coal sectors rose again. The semiconductor wafer and wafer industry chains adjusted,