Asia Centric by Bloomberg Intelligence

Dave Dai, Barclays head of APAC sustainable investing research, and Bum Ki Son, Barclays senior regional economist for Korea and Taiwan, unpack power risks for chipmaking hubs. They map reliance on oil, LNG and chemical gases, quantify reserve vulnerabilities and day-of-peak outage threats. They debate alternatives like nuclear restarts, renewables ramp-up and emergency rationing measures to keep fabs running.

Louis Kuijs, Chief Economist for Asia-Pacific at S&P Global Ratings, offers macro insights on how a $100 oil shock and Strait of Hormuz disruption strain Asia. He discusses which Asian economies and currencies are most exposed. Shortages of critical inputs like fertilizers and helium and the policy tightrope facing central banks are also explored.

China has long relied on massive infrastructure spending and an unstoppable export engine, leading to a record $1.2 trillion trade surplus last year. However, this investment-heavy strategy is testing its limits as global trading partners increasingly push back, making Beijing's transition toward a consumption-based economy more critical than ever. But how achievable is this transition, and how long will it take? Hao Hong, Chief Economist and Chief Investment Officer at Lotus Asset Management, joins John Lee on the Asia Centric podcast to weigh in. He also breaks down the current regime shift in raw materials, explaining why the global economy is entering a new commodity supercycle driven by Western supply chain investments, AI infrastructure demands and a decade of severe industry underinvestment.See omnystudio.com/listener for privacy information.

Opportunities in fixed income are the best in over a decade, according to BlackRock. Investors can now build a 6% yielding portfolio without taking on the substantial credit or long-duration risks required in the past. Meanwhile, central bank policies have become desynchronized globally, creating a unique environment where Asian local bonds are negatively correlated to US debt. This wide dispersion in rates is creating unprecedented opportunities for investors to diversify portfolios and differentiate returns. Navin Saigal, head of global fixed income, Asia Pacific at BlackRock, joins John Lee on the Asia Centric podcast. He discusses how the AI and tech revolution is driving productivity gains and high GDP growth alongside a net-negative job environment — a dynamic that could put a dampener on global inflation. Saigal also explains why Asian local bonds remain among the most compelling, yet under-owned, diversification opportunities in the market today.See omnystudio.com/listener for privacy information.

Audrey Childe-Freeman, Chief FX Strategist at Bloomberg Intelligence, explains shifting geopolitical shocks and tariff uncertainty driving dollar weakness. She highlights why the Swiss franc, euro and Australian dollar may gain, discusses Japan’s yen challenges, and outlines gold’s role as a diversification play. Short, sharp takes on currency moves and global policy divergence.

Patrick Wong, Bloomberg Intelligence property analyst, shares data-driven forecasts. Rosanna Tang, Cushman & Wake & Wakefield Head of Research, breaks down market moves. They discuss a 9% rebound in home prices, stamp duty removal sparking transactions, wealth-effect links from equities, and a split recovery between prime offices and decentralised vacancies.

Vlad Savov, Bloomberg News technology editor who covers consumer and data-center tech. MS Hwang, research director at Counterpoint Research and memory-market specialist. They explore the sudden DRAM and NAND scarcity, why high-bandwidth memory is critical for AI, how panic ordering and geopolitical shifts worsened supply, and which firms and Chinese upstarts are racing to close the gap.

Global military budgets are surging at a pace unseen since the Cold War, fueling a defense-spending supercycle. NATO allies are aiming to spend up to 5% of GDP on defense by 2035, while Asian powers such as Japan and South Korea are also boosting spending. This environment has been a boon for defense stocks, with South Korea's Hanwha Aerospace rising a spectacular 2,600% since the start of the Russia-Ukraine War, even eclipsing Rheinmetall's 1,700% run. Is the defense spending supercycle sustainable? And which companies and countries stand to benefit from this surge? Wayne Sanders, senior defense analyst and retired US army colonel, and Eric Zhu, aerospace and defense analyst – both at Bloomberg Intelligence – join John Lee on the Asia Centric podcast. They also discuss the evolving roles of air defense, hypersonics and space in future conflicts.See omnystudio.com/listener for privacy information.

Takeshi Kitaura, a senior industrials analyst at Bloomberg Intelligence who specializes in robotics, shares insights on the booming humanoid robot market. He discusses the buzz from CES 2026 and the rising expectations around companies like Tesla and Boston Dynamics. Kitaura explores the concept of 'physical AI' and its role in automating factory processes, as well as safety concerns in domestic settings. He provides a cautious market forecast of a $5 billion automotive assembly potential by 2035, emphasizing that while excitement is high, practical implementation will take time.

Jayprakash Gupta, founder of Dhan, an innovative online brokerage in India, shares insights into the retail trading revolution in the country. He reveals that over 125 million investors have joined the market, with a significant rise in young, female, and rural participants. Gupta discusses how digitization and mobile access have driven this boom, while also emphasizing the new generation's penchant for quick gains in speculative trading. He highlights regulatory changes by SEBI aimed at curbing this frenzy, yet remains optimistic about India's growth potential.