Invesco's Asia equity outlook amid Fed pivot (with Bloomberg Anchor)

Yields cautious down , short term, interviewee explicit

explicit

NDX cautious up , medium term, gpt inferred

inferred

RUT

Oil

Metals

USD down , short term, interviewee explicit

explicit

Invesco 8.5
Asset Manager $1000.00B
Fiona Yang 7.5

Invesco's Asia equity outlook amid Fed pivot (with Bloomberg Anchor)

dxy

The US dollar weakness is one of them [elements supporting diversification of assets from US into Asia]. Explicitly cites USD weakness as a factor driving capital flows into Asia, implying she expects this trend to continue, especially with a pending Fed cut.

3 calls

-1

no reliable edge (random outcomes)

ndx

While not directly commenting on NDX, her view that a Fed cut supports risk assets, combined with her focus on AI as a key global trend (investing in AI supply chain in Taiwan/Korea and direct plays in China), implies a constructive outlook for tech-heavy indices like the Nasdaq. However, she tempers near-term optimism for Korea's tech rally, suggesting 'cautious up'.

yields

I think the market's already pricing in quite a high chance of a December Fed rate cut. Her entire investment thesis for Asia (Indonesia, India monetary stimulus, diversification from US) is predicated on the Fed cutting rates, which would lead to lower US yields.

9 calls

-1

no reliable edge (random outcomes)

12/1/2025 10:51:32 AM	short term cautious down	6 days later	+2.10%	-1.05%
10/28/2025 3:52:51 PM	medium term down	20 days later	+1.60%	-1.60%

Fiona Yang

I agree the market is already pricing a high chance of a December Fed rate cut. For Asia, it means countries like India and Indonesia have more room to loosen monetary policy and stimulate growth. Without a Fed cut, it would be extremely difficult for them to go on that path.

Recently met policymakers in Jakarta who are upbeat; new finance minister is injecting liquidity and putting money in consumers' pockets.
Fiona Yang

US dollar weakness and the interest rate cut support continued diversification of assets from the US into Asia. Asia has fundamentals: young growing population, innovation, manufacturing powerhouse.
Fiona Yang

On Korea: I was bullish 18 months ago due to memory cycle upturn and value-up initiatives. For 2026, I tone down my optimism because a lot of the positive outcome is already priced in. Need to see wider AI adoption on enterprise level.

Is trimming some memory stocks but diversifying into other sectors like autos, where Korean makers have a solid product pipeline for the US market.
Fiona Yang

Extremely excited about AI capability in China. DeepSeek moment woke up investors. China has cheap electricity, upgraded grid, mountains of data. There is a chip constraint, but companies are sourcing domestically at a huge discount.

Expresses AI play through supply chain investments in Taiwan and Korea, and direct plays in China, as they trade at a discount to global leaders.
Fiona Yang

For 2026, excited about Southeast Asia markets (catch-up play) and China consumer space. In Shanghai, people are happy to spend; consumption pattern has changed.

Acknowledges concerns about deflation and lower housing prices but observes dynamic street activity.

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