Tech sell-off creates opportunities to buy cheaper, HSBC Wealth CIO says

The sharp sell-off in tech stocks has created opportunities to buy into profitable companies at a cheaper price, the chief investment officer of HSBC’s private bank said this week.

The tech-focused US Nasdaq 100 index (.NDX) dropped 3 per cent on Monday, as investors fretted about the US economy. It has slid 12 per cent from a record high in July, with some investors also worried that artificial intelligence has been overhyped.

“In technology, the froth has been removed from the valuations,” Willem Sels...