Thanks to the AI boom, stock markets in Taiwan and South Korea have seen historic rallies this year. But as retail investors pile in, often using borrowed money, concerns are growing over whether this momentum is sustainable.

On today’s Big Take Asia podcast, guest host Rebecca Choong Wilkins speaks with Bloomberg’s Asian markets reporter Charlotte Yang and Bloomberg Opinion’s Shuli Ren about the risks of betting on AI and how potential fallout could ripple beyond the region.

Read more: Taiwanese Go Deep Into Debt to Amp 100% Stock Rally

Play Micron, Hynix and Samsung ETFs at Your Peril

Hosted by Rebecca Choong Wilkins; Produced by Naomi Ng; Reported by Charlotte Yang, Shuli Ren, Chien-Hua Wan; Edited by Paddy Hirsch, Jiyeun Lee, Julia Weaver.

Fact-checking by Victor Swezey; Engineering by Taka Yasuzawa.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

See omnystudio.com/listener for privacy information.

A divided Supreme Court has upheld the constitutional right to birthright citizenship, rejecting President Trump’s planned restrictions and invalidating a central plank of his immigration agenda. We have more on that story next from Bloomberg News Now, tracking the latest business headlines from around the world.

See omnystudio.com/listener for privacy information.

In a 5-4 ruling, the Supreme Court blocked President Trump’s efforts to remove Federal Reserve Governor Lisa Cook for now, delivering the Fed a victory in the grueling fight over its independence. But the decision arrived alongside another ruling that allows the president to fire a top official at the Federal Trade Commission—a move widely seen as a boon to executive power over independent agencies.

On today’s Big Take podcast, Bloomberg Fed Editor Amara Omeokwe and Senior Legal Reporter Zoe Tillman join Sarah Holder to unpack what these twin rulings mean for the Trump administration's push to assert power over long-independent government regulators, how the court singled out the Fed in its decision and what this means for the central bank and Lisa Cook’s future.

Read more: Supreme Court Expands Trump’s Power to Fire Federal Bureaucrats

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Reported by Amara Omeokwe and Zoe Tillman; Edited by Jeffrey Grocott.

Fact-checking by Laura Newcombe and Victor Swezey; Engineering by Emma Munger.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

See omnystudio.com/listener for privacy information.