How much longer can the global stock market rally last? Set sail on a study tour at Shanghai Dishui Lake and discuss asset trends for the second half of the year with financial experts.
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On May 15, South Korea’s KOSPI index pulled back sharply by over 6% after breaking through 8,000 points for the first time and setting a new record high.
This has once again triggered market speculation: How much longer can the global stock market frenzy, driven by the AI industry boom and led by tech stocks since April, last?
Since the lows in March, U.S., Japanese, and South Korean stock markets have continued to hit new record highs. Since the end of March to now, the Nasdaq and Nikkei 225 indices have both risen more than 20%, while the KOSPI’s gain is close to 50%.
On May 13, the U.S. Senate officially confirmed Kevin Walsh as the new chairman of the Federal Reserve. Currently, the 10-year U.S. Treasury yield remains at a high level of 4.5%, and oil prices are still above $100, pushing inflation expectations higher. These factors have further decreased the likelihood of the Fed cutting rates in 2026, putting pressure on risk assets.
In the first half of 2026, the Hormuz Strait crisis caused by the U.S.-Iran war, and the anticipated productivity revolution driven by the explosion of the AI industry, are the two key factors determining the direction of global capital markets. For now, the global capital market seems to have “selectively forgotten” the tension in the Hormuz Strait; but if a “black swan” event occurs in U.S.-Iranian negotiations, it will undoubtedly cause severe volatility in major asset classes.
The AI industry boom has ushered the global semiconductor industry into a super cycle. Leading domestic and international companies across different segments — from chips to memory, optical modules, liquid cooling, etc. — have all seen their stock prices surge sharply since the start of the year. Samsung’s market value surpassed one trillion dollars, closely followed by SK Hynix.
On the one hand, more and more well-known analysts are starting to worry about “overvaluation.” On the other hand, some landmark events could inject new variables to the current tech stock rally: Musk’s SpaceX is expected to go public in June, likely becoming the largest IPO in history. Will it further boost market sentiment as a catalyst, or will it become the “last straw” triggering a market correction?
As 2026 reaches its halfway point, opportunities and risks in the global capital markets are changing rapidly — too many variables to consider, too many questions to answer.
In mid-June, as summer begins, Wallstreetcn’s “Meeting·Wilderness Trip” invites you to set sail for a study tour at Dishui Lake in Shanghai, where you can not only enjoy the thrill of sailing between lake and sea, but also meet more like-minded individuals to discuss asset allocation trends behind closed doors. We have specially invited three financial experts as sharing guests for this study tour to have in-depth closed-door discussions with everyone.
On the afternoon of June 13, we have invited Yao Jiahong, Assistant General Manager of GF Fund and General Manager of Quantitative Investment Center, for an in-depth dialogue themed ‘How does GF Quantitative Stay True Yet Be Creative?’ Yao Jiahong has 22 years of experience in the financial industry, including 11 years in investment management. He currently manages multiple quantitative equity funds and specialized investment accounts.
Regarding the current global market trend focused on tech stocks, on the afternoon of June 13, we have also invited Zhang Lin, fund manager at China Merchants Fund for a closed-door seminar themed ‘Technology Trends Outlook for the Second Half of 2026.’ Zhang Lin has over 10 years of research and investment experience in tech stocks, focusing mainly on TMT and high-end manufacturing. He currently manages three tech-themed equity funds. He excels at integrating industry trends with company competitiveness, tracking industry medium- and long-term trends and competitive landscapes, analyzing individual stocks’ competitive barriers and customer stickiness, and selecting high-quality stocks for excess returns.
On the morning of June 14, we will also invite renowned economist Fu Peng to a closed-door exchange. Fu Peng has over 10 years of experience working in overseas hedge funds and has deep insights into global capital market asset rotation and the global macroeconomy. In this private session, he will share the latest insights on changes in major asset allocation trends for the second half of 2026.
So far, nearly 20 high-net-worth individuals, mostly Alpha annual members, have confirmed their participation in this study tour at Dishui Lake, Shanghai, from June 12 to 14. Most are business owners and senior executives in finance. For detailed information on this Shanghai Dishui Lake wilderness study tour, please see the event poster below; click the poster to register! Enjoy the early bird discount by signing up now.
If you are interested in the Dishui Lake event in Shanghai, feel free to bring your family along. The area around Dishui Lake offers abundant water sports like sailing and kayaking, and on weekend evenings there will also be fireworks displays. While you are participating in closed-door sessions and lively discussions on asset allocation trends with three renowned guests, your family can enjoy the lake scenery and join you in sailing activities, spending a wonderful weekend together.
Finally, a reminder: the “Meeting·Wilderness Trip” Shanghai Dishui Lake Study Event will be held from June 12 to 14. For more event details, you can also click the image above to consult the Alpha assistant.
Risk Reminder and DisclaimerMarkets have risks, and investment requires caution. This article does not constitute individual investment advice and does not consider the specific investment objectives, financial situations, or needs of any particular user. Users should consider whether any opinions, views, or conclusions herein are suitable for their circumstances. If you invest based on this, you do so at your own risk. ```