[Digital Today reporter Jinju Hong (홍진주)] Global investment bank HSBC is increasing its investment weightings mainly in U.S. and Asian stocks, judging the recent sharp drop in technology shares as a buying opportunity. It cited 11 stocks across industries from cloud computing and semiconductor equipment to power infrastructure and financial services as buy targets, and stressed an active response to the market correction.

On Nov. 12 (local time), blockchain outlet Decrypt reported that HSBC interpreted the recent tech-led selling more as a bargain-hunting opportunity than as a risk factor that needs to be defended against. The bank delivered a message related to the pullback saying, "Do not waste a good selloff," and presented a strategy of increasing stock exposure in areas that have fallen more.

The 11 stocks cited by HSBC were Alphabet, Applied Materials, Baker Hughes, Bloom Energy, Citigroup, Freeport-McMoRan, GE Vernova, NextEra Energy, Oracle, Sempra and Vertiv.

The list features technology and power infrastructure needed for the expansion of AI and data centres. Alphabet spans digital platforms, cloud computing and AI businesses. Oracle was selected as an investment target in enterprise software and cloud infrastructure.

In the semiconductor supply chain, Applied Materials made the list. Applied Materials, a maker of semiconductor manufacturing equipment, is affected by investment demand related to expanding chip production capacity.

In data centre power and cooling, Vertiv was included. Vertiv provides power supply and cooling systems needed for data centres. It is linked to a trend in which data centre power consumption and cooling-facility investment expand as demand for AI computing rises.

Several companies related to power generation and energy infrastructure were also included. Bloom Energy provides on-site power generation technology using fuel cells, while GE Vernova runs businesses in power generation facilities and electrification equipment. NextEra Energy and Sempra belong to the power and energy production and infrastructure sector.

Baker Hughes covers energy technology and industrial equipment, while Freeport-McMoRan is responsible for the production of metals such as copper. Copper is a key raw material needed for power grids, data centres and electrification equipment. In financial services, Citigroup was included, adding a financial stock to a portfolio concentrated on technology and infrastructure-related names.

The 11 stocks are characterised by being structured across multiple stages of the AI and data centre investment cycle rather than focusing only on a specific technology segment. The list broadly includes related industries from cloud services and semiconductor production equipment to data centre power and cooling facilities, power generation and grids, and raw-material supply.

It is also notable that HSBC presented U.S. and Asian technology stocks as priority targets for increasing weightings. As broader tech share price adjustments continue, this is interpreted as a strategy to seek investment opportunities by considering the potential for a rebound by region.

Still, the strategy does not mean it is confident of a short-term rebound across technology shares. The stock selection offered by HSBC is closer to an aim of approaching the market by choosing industries and companies that can maintain growth momentum even after a market correction.

Ultimately, market attention is focused on how much investment money the 11 stocks cited by HSBC will actually attract after the tech-sector correction. With AI and data centre investment continuing, another point highlighted by this strategy is that the investment scope is expanding beyond semiconductors to include power, cooling and energy infrastructure, as well as raw-material companies.