The Core Report #832 Global Markets Turn Nervous Again
12 snips
Mar 26, 2026 Ben Powell, Managing Director and Chief Investment Strategist for APAC at BlackRock, offers market and investment perspectives for Asia-Pacific. He discusses Asia's energy vulnerabilities and which countries benefit. He explains AI as a productivity tailwind for India. He outlines deglobalisation, inflation and why active, selective investing and inflation hedges matter now.
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Asia's Energy Vulnerability And Exceptions
- Asia is highly energy dependent, making most countries vulnerable to higher oil prices and growth headwinds.
- Ben Powell highlights Malaysia and Indonesia as exceptions because their energy production offsets sectoral pain from rising prices.
Shortages Are The Bigger Energy Risk
- Higher energy prices act as a conventional inflationary headwind, but the bigger risk is prolonged shortages that could disrupt fertilizer, gas and industrial supply.
- Powell cautions we're focused on inflation now but must watch shortages if the Middle East conflict persists for weeks.
AI Benefits Shift From Creators To Users
- AI's initial gains go to creators, but over time benefits shift to users as the technology diffuses.
- Powell sees India positioned to gain as AI adoption moves from creation to widespread user-driven efficiency improvements.