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JPMorgan: Global Stock Rally Broadening Beyond Technology Sector

Global equities are delivering returns competitive with major U.S. benchmarks, with investor gains extending well beyond technology stocks, according to strategists at JPMorgan Chase & Co.

The recent rebound in international markets has been concentrated among a narrow group of winners, leaving room for broader-based gains if sentiment shifts even slightly positive, the firm's analysts said.

Geopolitical tensions, including Middle East conflicts, alongside persistent inflation concerns and fragmenting global trade patterns are reshaping market dynamics. The artificial intelligence sector has matured beyond its initial concentration in mega-cap technology firms, with strength now appearing across diverse industry segments.

Meanwhile, Chinese chipmakers have attracted investor attention, though valuations have climbed sharply relative to global peers, prompting caution among market participants evaluating entry points in the sector.