Regional markets closed cautiously higher on Friday, last week rounding off a week-long rally powered by a series of solid earnings and a perceived dovish tilt from central banks.took heart from a soft U.S. jobs report last week that helped reduce interest rate expectations. South Korea stocks surged on Monday after the country re-imposed a ban on short-selling.
"The Magnificent has done well and are poised to continue to do well because they have fortress-like balance sheets and they're highly profitable. They used the past two years post Covid to get more efficient, but they also have tremendous opportunities ahead in terms of artificial intelligence," Jonathan Curtis told CNBC's"Squawk Box Asia" on Friday.
However, he said investors needed to be a"little bit more curious and more cautious" on the tech mega-caps -- and revealed his favorite with"tremendous growth potential."An upturn in a corner of the semiconductor industry began in the second half of this year, according to Citi. The jump in September's monthly semiconductor sales beat Citi's estimates. It was up 13% month on month to $49.6 billion, higher than the bank's estimates of $46.9 billion, the bank said.Earnings playbook: How to trade the biggest reports this week, including DisneyNortheast Philadelphia