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Magnificent Seven outperformance to end, says VP Bank’s Asia CIO

The Magnificent Seven drove US equity market performance last year, overshadowing weaker recovery in sectors like energy and financials. VP Bank’s Asia CIO, however, anticipates this overall outperformance will diminish, with a rotation into previously lagging sectors. The S&P 500 gained 24% last year mainly due to companies within the technology and communication services sectors, including Meta, Alphabet, Microsoft, Amazon,…

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