JPMorgan flipped from warning to buying just one day later, telling investors to add tech and chip stocks in Taiwan, South Korea and China — good news for anyone holding Asian tech, if the call holds.

• The bank now says the recent global sell-off is a short-term mood swing, not the start of a real downturn, and selling now means falling for a market trap.
• Just a day earlier the same bank warned that rising US government bond yields, US-Iran tensions and cooling AI momentum could make things worse.
• Chip and tech stocks look oversold, so markets tied to the IT supply chain — Taiwan, South Korea and China — are the ones to buy on dips.
• Company profits have stopped being cut, Europe's factory surveys are picking up, and a weaker dollar would help emerging markets.
• The catch: oil near $90 and US 10-year yields flirting with 5% would squeeze expensive growth stocks again.

Outlook: Expect September and October to reward individual winners rather than lifting every index, with JPMorgan still betting the S&P 500 hits new highs by year-end.