  We find an infinite number of conserved currents and charges in the
semiclassical limit $\lambda \to \infty$ of string theory in AdS$_5 \times S^5$
and remark on their relevance to conserved charges in the dual gauge theory. We
establish a general procedure of exploring the semiclassical limit by viewing
the classical motion as collective motion in the relevant part of the
configuration space. We illustrate the procedure for semiclassical expansion
around solutions of string theory on AdS$_5 \times (S^5/Z_M)$.
