Asia Centric by Bloomberg Intelligence 2026 Lookahead for Stocks, Bonds and Currencies
Dec 3, 2025
Joining the discussion are Marvin Chen, Senior Equity Strategist at Bloomberg Intelligence, Stephen Chiu, Chief Asia FX Strategist, and Timothy Tan, Senior Credit Strategist. They analyze how Asian equities might outpace the S&P 500 in 2026, with Marvin highlighting opportunities in Korea, Taiwan, and India. Stephen discusses the evolving dynamics of Asian currencies like the RMB, while Timothy dives into potential credit risks and liquidity issues, warning of funding stress that could trigger capital repatriation back to Asia. The future looks intriguing!
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Position For A Multi-Region Rotation
- Expect further foreign inflows into China as sentiment stabilizes but note allocations remain below historical averages.
- Position for rotation: overweight Korea for memory demand and consider Southeast Asia and India for expanding momentum.
Dollar–Asia Link Has Fractured
- The dollar–Asia relationship changed after April when correlations broke down and funding-source risks rose.
- Stephen Chiu warns FX impact depends on the source of risk and whether it originates in the US or elsewhere.
Choose Stable FX Plays
- If you prefer safety amid uncertainty, favor currencies with strong fundamentals like the Malaysian ringgit and the onshore RMB.
- Stephen Chiu advises avoiding high-beta currencies tied closely to equity and dollar moves such as Korea and Taiwan.