摩根大通：芯片股波动加剧或引发市场情绪冲击

Odaily Odaily reports that the strategy team at JPMorgan Chase has warned that the sharp volatility in the semiconductor sector may be increasing the risk of market "tantrums (emotional shocks)," potentially forcing some investors to passively reduce their positions. The team, led by Nikolaos Panigirtzoglou, pointed out that while chip stocks have rebounded to near all-time highs this week, the accompanying increase in volatility could trigger a so-called VaR (Value at Risk) shock scenario.

Under the VaR mechanism, when rapid market fluctuations push portfolio risk indicators beyond their thresholds, investors may be forced to lower their exposure even if they remain confident in the long-term thesis, thereby causing a chain reaction of selling pressure.

Analysts believe that the current co-occurrence of rising stock prices and increased volatility in the semiconductor sector is amplifying the potential for systemic risk transmission and creating a potential disturbance for overall risk-asset sentiment. (Bloomberg)