Coronation Asset Management Ltd., a South African asset management company with a management scale of $47 billion, has cut its investments in chip manufacturers and increased its allocation to the Indian market, as expectations for artificial intelligence (AI) concept stocks have risen to nearly insurmountable levels. The company's $3.1 billion global emerging markets fund reduced its combined holdings in SK Hynix and TSMC from approximately 8% at the end of December last year to about 5% in the second quarter. (Bloomberg)
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South African Fund Manager Reduces AI Chip Stock Holdings and Increases Investment in Indian Market
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