Asia Centric by Bloomberg Intelligence

China’s property crisis, its stock market swings and falling prices have dealt a body blow to Chinese consumers' confidence, and shock waves from their retrenchment are shaking up some of the world’s biggest luxury brands. Is China's new retail frugality here to stay? Or will its once-freewheeling consumer spending roar back with a vengeance? Bloomberg Intelligence's senior consumer analysts Catherine Lim and Deborah Aitken join co-hosts John Lee and Tom Corbett with their insights on how China's new consumer austerity is reshaping expectations for global retailers. See omnystudio.com/listener for privacy information.

A chill has overcome the once-red hot electric-vehicle market. Demand is slowing, competition is growing, cash-strapped consumers are skeptical, and the EV market outlook is uncertain. Tesla has become the poster child for the industry’s ordeals, with slowing sales, a tumbling stock price, and China’s economic woes all converging into a grim picture. But other EV makers are also struggling, and the road ahead could be rough. What will it take to bring back the thrill to EVs? How is BYD -- China’s EV juggernaut – rewriting the rules for Tesla and other rivals? Or could Toyota's hybrid vehicles be the answer? Steve Man, global director of industrials and automotive research at Bloomberg Intelligence weighs in on the road ahead for EVs, which he says are here to stay despite the risks and challenges. See omnystudio.com/listener for privacy information.

The world’s stock markets have made a routine of breaking records, with the Nikkei 225, the S&P 500 and the Nasdaq all spending 2024’s first quarter soaring into uncharted territory. Exuberance is abundant, but so are the risks. Are the world’s equity markets rising too far too fast? Is it time to revisit safe-haven assets? And is the classic 60/40 asset allocation model still relevant today? From Paris, Jean-Charles Bertrand, Global Multi-Asset Chief Investment Officer at HSBC Asset Management joins co-hosts John Lee and Tom Corbett with his insights on the investment road ahead. See omnystudio.com/listener for privacy information.

The rush to board the AI bandwagon has powered America’s Magnificent Seven stocks to a level of investor excitement not seen since the 1990s dot-com bubble. Is artificial intelligence for real? How does the Magnificent Seven rank in terms of AI monetization? Can Asia tech stocks keep pace with their American counterparts? Mandeep Singh, Global Head of Technology Research at Bloomberg Intelligence and Robert Lea, Senior Asia Technology Analyst join co-hosts John Lee and Tom Corbett for an insightful glimpse at what the future holds for AI, and how investors might profit from its progress. See omnystudio.com/listener for privacy information.

A sea change is afoot in South Korea, where a new corporate governance code promises to overhaul the country’s business dynamics. Some believe that could help its stocks shake off the so-called “Korea Discount” as it tears a page from Japan’s playbook in a bid to mimic the Nikkei 225’s rejuvenation. Investors have taken notice and have channelled more than $8 billion into Korean stocks during January and February 2024 as they seek to cash in. Can South Korea’s new boldness shake up its rigid corporate culture and reinvigorate its equity markets? Are companies even ready for American style shareholder activism? Activist investor Changhwan Lee, Founder & CEO of Align Partners, discusses his proxy fight over SM Entertainment and Korea’s changing investment landscape with co-hosts John Lee and Tom Corbett. See omnystudio.com/listener for privacy information.

China's challenges are snowballing. From its slumping stock market to its property crisis, to a generation lying flat, the outlook is daunting, and easy fixes are unlikely. The world's second largest economy also faces structural problems, including a shrinking population, high household debt and low consumer confidence. How will China's tough choices shape the road ahead, and what are the implications for the rest of the global economy? Hao Hong, Chief Economist at Grow Investment Group joins co-hosts John Lee and Tom Corbett on Asia Centric from Bloomberg Intelligence. See omnystudio.com/listener for privacy information.

Evergrande has become the mother of all casualties in China’s real estate crisis, crumbling under the weight of its own debt, and leaving homebuyers and investors reeling. The latest twist in the Evergrande saga came this week when a Hong Kong judge ordered the property giant liquidated. The ruling comes more than two years after the developer first defaulted on a bond payment. Can Evergrande’s bondholders ever be made whole? What will it take to restore confidence in China’s property market? And why might the worst not yet be over? Bloomberg Intelligence senior analysts Kristy Hung and Daniel Fan join hosts John Lee and Tom Corbett to assess the ruling's impact and what lies ahead. See omnystudio.com/listener for privacy information.

The attacks on cargo vessels plying the Red Sea have delivered the biggest blow to global trade since the Covid-19 pandemic. Drones, missiles, and gunfire from Houthi rebels are sending ships on costly and time consuming detours around Africa. Container ships are bearing the brunt of the impact, and the ensuing delays and soaring costs threaten to upend supply chains and rekindle the fires of inflation. China might also have the most at stake. How bad could the crisis get? How are global shipping companies benefiting? Bloomberg Intelligence’s transportation & logistics analysts Lee Klaskow and Kenneth Loh join co-hosts John Lee and Tom Corbett to reveal how they see the shipping industry. See omnystudio.com/listener for privacy information.

Taiwan’s hotly contested presidential election was cast as a stark choice between two different destinies, but for the island’s voters, relations with mainland China are just part of the picture. Economic growth, jobs, and a path to prosperity are big issues for Taiwan’s more than 23 million people, especially its young adults, who’ve come of age facing the risk of conflict, a changing identity, and an uncertain future. How likely is Taiwan to find itself at the center of a wider conflict? How much damage would an invasion inflict? How would the US respond? Can such a scenario be prevented? And what will the next four years look like? Jennifer Welch, Chief Geo-Economics Analyst at Bloomberg Economics and Maeva Cousin, Senior Global Economist for Bloomberg Economics join co-hosts John Lee and Tom Corbett for a look at the precarious road ahead for Taiwan and the world. See omnystudio.com/listener for privacy information.

Asia’s investors are staring at a potential watershed year in 2024, which promises turning points, stumbling blocks, opportunities, and more than a few surprises. Falling rates appear likely, but when, how fast and how far the U.S. central bank will cut has investors guessing, with implications for Asian currencies, bonds and equities. Can China recapture the animal spirits that once made it the darling of western investors? Or will Japan and Southeast Asia continue to steal the spotlight? And what could go wrong? Bloomberg Intelligence’s Senior Asia Equity Strategist Marvin Chen, Chief Asia FX and Rates Strategist Stephen Chiu, and Senior Asia Credit Strategist Timothy Tan join Asia Centric’s co-costs John Lee and Tom Corbett for a look at what 2024 might bring. See omnystudio.com/listener for privacy information.

Family offices -- they’re the secretive, go-anywhere asset managers that quietly steward fortunes for the ultra-rich. In Asia, Singapore has emerged as the new family office hot spot, wooing captains of industry, crypto whales, and Chinese billionaires with low taxes, favorable regulations, a business-friendly environment, and safety and security. The island has become home to more than 1,100 family offices, which manage more than $4 trillion in assets. Why is Singapore such a draw for the world’s billionaires? Is the growth sustainable? And what are the risks? Venture capitalist and family office CEO Sharon Sim joins co-hosts John Lee and Tom Corbett for a look under the hood at this insular but fast-growing corner of the high net-worth world. See omnystudio.com/listener for privacy information.

India has emerged as the hot, new growth opportunity for global investors. It's the world’s most populous country, and largest democracy. It’s home to a demographic swath of 600 million people younger than 30, and a booming economy growing by 7-8% a year. India’s energy and opportunity have made it a magnet for foreign capital, leaving many convinced that the highest-quality growth is yet to come. But is India's growth story the real deal? Is it at a tipping point too promising to ignore? Or is it just a diversification play for investors seeking to hedge their stakes in China? Veteran emerging markets investor Mark Mobius, founder of Mobius Capital Partners, talks to Asia Centric’s John Lee and Tom Corbett from Chennai, and he reveals why he’s excited enough about India to make a big bet on its economic future. See omnystudio.com/listener for privacy information.

Global real estate investors have been navigating a treacherous path, with many wondering where the markets will go next. In Hong Kong, interest rates have crushed home prices, sending some mortgages under water while its once jam-packed commercial real estate market struggles to fill space. When might the real estate winds shift? Will rates carry property values higher or lower? Where are the risks and opportunities? And is it really different this time? Veteran Hong Kong property consultant Peter Churchouse of Portwood Capital and senior property analyst Patrick Wong share their insights with co-hosts John Lee and Tom Corbett on Asia Centric from Bloomberg Intelligence. See omnystudio.com/listener for privacy information.

So-called weight-loss drugs are generating waves of hope and hype. Names such as Wegovy, Ozempic and Mounjaro fall breathlessly from the lips of social media influencers, bringing promise and possibility to the one billion people the World Health Organization says suffer from obesity. Investors are already buying in, sending the market caps of Novo Nordisk and Eli Lilly soaring into the ranks of the world’s most valuable companies. Are these obesity drugs a fat-fighting panacea? Could they make junk food cravings a thing of the past? What’s their sales potential in Asia? Can makers of salty snacks lean in to a potential shift in eating habits? Bloomberg Intelligence healthcare analysts Michael Shah and Leslie Yang join hosts John Lee and Tom Corbett to discuss whether these so-called "wonder drugs" can live up to their hype. See omnystudio.com/listener for privacy information.

Chinese shopping apps are shaking up online retail, with fast-fashion leader Shein and viral sensation discounter Temu setting the pace. Both are powering China’s exports by letting overseas consumers buy everything from clothing to digital gadgets directly from manufacturers, and at bargain prices few brick-and-mortar retailers can beat. Their flashy websites, aggressive marketing, and social media know-how help drive their breakneck growth. Could Shein be the future of fast-fashion retail? Is Temu a potential “Amazon killer” with its vast array of offerings, millions of downloads, and super-cheap prices? Bloomberg Intelligence’s retail experts Catherine Lim and Tatiana Lisitsina join co-hosts John Lee and Tom Corbett for a closer look at the forces that are reshaping the way the world shops. See omnystudio.com/listener for privacy information.

US-led sanctions on Chinese tech firms were meant to put a barrier between China and the cutting-edge of smartphone know-how. Little wonder, then, that Huawei drew a collective gasp when it revealed its new smartphone -- the Mate 60 Pro -- is powered by a homegrown, China-made processor. Almost overnight, the world woke up to the reality that China’s tech savvy was more advanced than many believed, giving global tensions a new sense of urgency. Where does the U.S.-China relationship go from here? And how might it shape fortunes at Apple, which has an outsized investment stake in China? Dan Hutcheson, Vice Chair of TechInsights joins co-hosts John Lee and Tom Corbett for a wide-ranging discussion of how recent events are reshaping the relationship between China, the U.S., and the high-stakes quest for tech supremacy. See omnystudio.com/listener for privacy information.

Hong Kong’s niche as a social and economic crossroads has framed its legend for decades. Now, a new generation of eager, young professionals from mainland China is rushing to Hong Kong to pursue similar dreams, filling the gap left behind by the city’s dwindling ranks of western expats. Their presence signals a seismic shift toward the city’s “mainlandization” and heralds the emergence of a compelling new chapter in Hong Kong’s history. What’s driving this watershed change? What will it mean for Hong Kong’s economy? Its job market? Its business prospects? Mark Tibbatts of PageGroup, and Francis Chan and Peter Lau of Bloomberg Intelligence join hosts John Lee and Tom Corbett for a glimpse into Hong Kong’s future, and what it means for the world. See omnystudio.com/listener for privacy information.

The drumbeat of headlines about China resembles a litany of gloom and pessimism. A crisis in its property sector, high youth unemployment, faltering economic growth and soaring local government debt have raised questions about the future of the once-unstoppable Chinese juggernaut. Are China’s days as an economic powerhouse a thing of the past? Louis Kuijs, Asia-Pacific chief economist at S&P Global Ratings and a veteran China observer shines a light on what he believes lies ahead as he shares insights with hosts John Lee and Tom Corbett. See omnystudio.com/listener for privacy information.

Country Garden was once considered a leader among China's property developers. Now, a missed bond payment has turned it into the latest poster child for all that's wrong with the country's housing market. Developers saddled with too much debt, not enough cash, faltering sales, nervous buyers and anxious creditors all add up to a renewed crisis of confidence. The ripple effect could reverberate beyond China's borders, bearing strong echoes of the crisis that engulfed its rival, Evergrande, in 2021. Can China's property crisis get much worse? Who's most at risk? What will it take to turn it around? Bloomberg Intelligence senior analysts Kristy Hung and Daniel Fan join hosts John Lee and Tom Corbett for a compelling look at how Country Garden stumbled, and what it means for China's housing market and its broader economy. See omnystudio.com/listener for privacy information.

Asia's ETF industry continues to shake up the investment landscape, attracting $65 billion in inflows so far in 2023 to an impressive $1.3 trillion in assets under management. Asia's retail investors are giddy about artificial intelligence, but other themes such as K-Pop and the Metaverse give Asia's ETFs an entertaining twist with a dash of FOMO. Rebecca Sin, senior ETF analyst at Bloomberg Intelligence joins hosts John Lee and Tom Corbett to discuss all things ETFs, including her take about the new opportunities they create for investors. See omnystudio.com/listener for privacy information.