On 9 November 2025, Asia-Pacific technology shares — particularly those in AI and semiconductor sectors — recorded one of their shakiest spells in months, as market participants flagged narrow breadth, rich valuations, and uncertainty around the timing of interest-rate cuts. The downturn has reignited questions over whether the 'world-beating' rally in these themes is becoming more vulnerable. Charu Chanana, Chief Investment Strategist at Saxo Markets Singapore, said the key trigger has been extended valuations and limited participation beyond a few mega-caps. With export risks rising and policy support uncertain, Asia’s chip-led market structure may face more turbulence ahead.