Bloomberg Daybreak: Asia Edition TikTok Seals US Deal, Japan's Takaichi Tax Plan
Jan 23, 2026
In this discussion, Ivy Ng, Chief APAC Investment Officer at DWS, delves into the AI-driven tech rally, highlighting that earnings are crucial for sustainable growth while cautioning about high valuations. She shares insights on the improving property market in Hong Kong and suggests that gold remains a strong portfolio diversifier amid geopolitical tensions. Additionally, the conversation touches on Japan’s proposed food tax cut by Prime Minister Takaichi, critiqued for its lack of targeting and potential market repercussions.
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TikTok Creates U.S. Firewall For Operations
- TikTok and ByteDance created a new U.S. entity and transferred parts of TikTok's U.S. operations to American investors to placate regulators.
- Oracle, Silver Lake, and Mgx will act as the three managing investors forming a firewall around U.S. operations.
Alibaba's T-Head Emerges As Chip IPO Contender
- Alibaba is preparing an IPO for T-Head, its chip unit focused on computing and storage chips supported by sustained investment.
- China tech benefits from lower costs and abundant engineering talent, supporting competitive advantages in semiconductors.
AI Rally Driven By Earnings, Not Just Hype
- Ivy Ng attributes the AI rally to earnings and management guidance rather than pure speculation, especially in Taiwan and Korea.
- She warns valuations are high and investors should watch return-on-equity and ROI metrics closely.