Traders shift focus to Chinese equity derivatives for AI exposure as Korean and Japanese plays get crowded

The hottest AI trade in Asia is no longer in Seoul or Tokyo. Investors who spent the last two years piling into South Korean memory chip stocks and Japanese semiconductor plays are rotating into Chinese equity derivatives, chasing what they see as better valuations in Beijing’s rapidly expanding tech ecosystem. The shift is particularly visible in offshore perpetual futures markets, where platforms like Hyperliquid and tradeXYZ have become unexpected conduits for global capital seeking exposure to Chinese AI infrastructure, chipmaking, and robotics companies. The numbers behind the rotation Perpetual futures tied to Unitree Robotics surpassed $105 million in trade volume within a 24-hour window following the company’s IPO. CXMT, a Chinese memory chipmaker, saw offshore perpetual futures register roughly $66 million in open interest shortly after its July 2026 listing. Even before that IPO, CXMT perps were doing approximately $19 million in daily volume. Value Partners, one of Asia’s leading fund managers, sold positions in Taiwanese and South Korean AI stocks starting in August 2025 to redeploy capital into cheaper Chinese firms. Early 2026 saw Korean retail investors alone pouring...