On China’s Property Meltdown & Asia’s AI Meltup

China’s property market is spiraling again, William reports. Falling home prices and land-sale revenue are compounding three domestic headwinds: deflation, weak spending, and shaky local finances. A negative feedback loop is escalating the problems, and the government’s fixes don’t address them head on. … Also: The stock markets of South Korea and Taiwan are so concentrated in a few big AI exposed tech companies that they’ve been riding the roller coaster of investor sentiment toward AI. But Toby says they’re two of the world’s best performing stock markets ytd notwithstanding their volatility. And they’ve got the earnings growth outlooks to back their rallies up.