Allspring Cautious on IT/Pharma, Bets Big on India, Korea, AI Chips for 2026

• Allspring Global Investments adopts a selective emerging markets strategy for 2026, focusing on India, Korea, and AI-linked themes.
• India is seen as a selective market with easing valuations; Allspring is overweight financials and autos, but underweight IT and globally exposed pharma.
• Strongest conviction is in Korea, with overweight positions in memory chip plays benefiting from AI demand and increased pricing power.
• In China, Allspring is underweight overall but favors AI-related names, while also being overweight TSMC in Taiwan.
• US market momentum is expected to continue into 2026, potentially boosted by OpenAI's fundraising, supporting AI-linked stocks.

Why It Matters: Allspring's 2026 EM strategy prioritizes selective India, Korea, and AI chips, while avoiding IT/pharma.