STOCKS | Southfund Liu Wenliang Says Equities May Be Nearing a Late-Stage Bottoming Process
2026-07-28 01:50:36
Southfund's Liu Wenliang said the equity market's bottoming process may have entered a late stage, and that the semiconductor capacity-expansion logic is expected to restart as the main theme. According to Jin10, he said technology is still the deciding factor for the third-quarter rally, with funds likely to refocus on the technology main theme led by storage leaders. Liu said the third-quarter contract price for server DRAM remains on a path of price increases, HBM stays in tight balance, and higher prices are expected to spread from storage makers to equipment, components, and materials. He added that Taiwan Semiconductor Manufacturing Co. has raised its annual CAPEX, ASML has lifted its guidance again this year, and SEMI expects global equipment sales to grow 23% in 2026 to a record high.
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