Investing.com —— 随着人工智能股票的抛售引发对估值和巨额基础设施支出回报的担忧，投资者正将资金转向中国和印度股市，以及对科技依赖程度较低的亚洲板块。
Investing.com -- Investors are shifting toward Chinese and Indian equities and less technology-dependent Asian sectors as a selloff in artificial intelligence stocks raises concerns about valuations and returns on massive infrastructure spending.
这种轮动紧随美国中期选举后半导体权重较大的市场急剧下跌，投资者正在重新评估其对供应全球人工智能扩张的公司的敞口。
The rotation follows a sharp decline in semiconductor-heavy markets after the U.S. midterm elections, with investors reassessing their exposure to companies supplying the global AI expansion.
韩国的三星电子和SK海力士，以及台湾台积电，均面临抛售压力，因为市场怀疑人工智能投资是否能带来足够的利润。
South Korea’s Samsung Electronics and SK Hynix, alongside Taiwan Semiconductor Manufacturing, have faced selling pressure as doubts grow over whether AI investment will deliver sufficient profits.
中国已成为潜在的替代选择。上周，一个追踪中国内地公司的香港指数上涨5.2%，录得自2025年3月以来的最强表现，因投资者寻求更便宜的估值和更低的科技集中度敞口。
China has emerged as a potential alternative. A Hong Kong index tracking mainland Chinese companies gained 5.2% last week, its strongest performance since March 2025, as investors sought cheaper valuations and less concentrated technology exposure.
印度吸引了更强劲的买盘。Nifty 50指数飙升8.6%，录得自2021年以来最大单周涨幅，得益于外资兴趣回升以及预期油价下跌将利好这个能源进口型经济体。
India attracted even stronger buying. The Nifty 50 surged 8.6%, its biggest weekly advance since 2021, supported by renewed foreign interest and expectations that easing oil prices could benefit the energy-importing economy.
截至周三，海外投资者净买入19亿美元印度股票，扭转了此前的疲软态势，此前该市场在今年大半时间里落后于全球同行。
Overseas investors purchased a net $1.9 billion of Indian equities through Wednesday, reversing earlier weakness in a market that had lagged global peers for much of the year.
投资经理越来越青睐国内增长机会，包括印度金融公司、合同药物制造商和以消费者为中心的企业。越南也因其国内增长前景而受到关注。
Investment managers are increasingly favoring domestic growth opportunities, including Indian financial companies, contract drug manufacturers and consumer-focused businesses. Vietnam is also attracting attention for its domestic growth prospects.
在韩国，投资者正将目光投向化妆品、娱乐、零售和食品公司，而非主要芯片制造商，这些公司的收入与人工智能基础设施支出的直接关联较小。
In South Korea, investors are looking beyond major chipmakers toward cosmetics, entertainment, retail and food companies, whose revenues are less directly tied to AI infrastructure spending.
在其他地方，医疗保健和消费必需品正受到关注，此外还有可能从美国贸易壁垒降低中受益的制造商。
Elsewhere, healthcare and consumer staples are gaining attention, alongside manufacturers that could benefit from reduced U.S. trade barriers.
LG电子已成为关税压力缓解的潜在受益者之一，因其在美国家电和电视市场拥有敞口。日本和韩国汽车制造商也重新受到关注。
LG Electronics has emerged as one potential beneficiary of easing tariff pressures, given its exposure to American household appliance and television markets. Japanese and Korean automakers are also drawing renewed interest.
部分投资者仍将AI板块下跌视为买入良机，但当前的资金转向更倾向于分散配置至盈利驱动因素不同的业务。
Some investors still view the AI downturn as a buying opportunity, but the immediate shift favors diversification into businesses with different earnings drivers.