There’s No Tech Fatigue in ‘Squid Game Stock Market': Shuli Ren

The global gold rush into US-based AI companies is looking tired. Big Tech’s capital spending spree, coupled with fears that the innovation could doom countless businesses, has prompted stock selloffs in recent days.

This exhaustion is absent in South Korea, however. As global investors look to diversify from US assets, the “squid game stock market,” a nickname coined by Acadian Asset Management’s portfolio manager Owen Lamont in reference to the hit Netflix Inc. series, needs to be on their radar.

The key is retail participation, an increasingly important pillar of bull rallies. Whereas Americans are displaying signs of ...