So here’s what I’ve been thinking. Nikkei and KOSPI are hitting record highs (Nikkei 225, Japan’s main stock index, and KOSPI, South Korea’s main stock index), and everyone’s quick to say, “Asia’s just following Wall Street.” But that feels too simple. Are Asian markets really copying the U.S., or are we just telling that story because it’s easier than looking at the numbers? Asian Market is up 17% this year, while the S&P 500, a stock market of, 500 of the largest companies listed on U.S. stock exchanges, is only up 6% this year, which makes Asia’s 17% gain look like a huge lead.
From what I see, these markets aren’t “riding” on U.S. sentiment at all. Japan is pushing hard on AI and robotics, South Korea’s semiconductors are killing it, and China’s blue-chip tech, they are doing great, because people actually want these products and services. The thing that really bugs me about the controversy, everyone loves a simple story, “Asia follows Wall Street, that's nothing original.” But if you look closer, it’s way messier than that. Asia is leaning into real innovation and growth, while the U.S. is stuck in hype, questioning themselves and hating on themselves other than, personally I feel, The headlines make it look like Asia is copying, but the strategy, the execution, Worked.
So here’s my question, why do we still judge success by whether it lines up with the U.S.? Isn’t it way more interesting that Asia proving it's growth can be considered more better, smart, and sustainable on its own terms? And if you really look at the rules, the isn't the playbook a bit behind the times.
But I am not going in on this topic with you all anymore...
~ASM