Bloomberg Daybreak: Asia Edition

Hong Kong's worst residential fire in more than half a century has killed at least 44 people and left hundreds missing, as rescue workers race to extinguish the blaze and Chinese President Xi Jinping urges all-out efforts to reduce casualties. Rescue efforts continued overnight after a fire that began around 3 p.m. Wednesday turned an eight-tower housing block in northern Hong Kong into an inferno, sending thick black smoke billowing into the sky. Officials said the blaze began on a section of the bamboo scaffolding encasing the complex, which is still widely used in the city. Bloomberg's Minmin Low is on site. Investors continue to keep an eye on the increasing probability of a December interest rate cut. What does that mean for Asian Markets? We heard from Hartmut Issel, UBS Wealth Management Head of APAC Equities and Credit. He spoke to Bloomberg's Avril Hong and Shery Ahn on the Asia Trade. Plus - Wall Street extended its rally on Wednesday. Tech stocks led the climb in US equities as rising expectations for interest-rate cuts helped carry traders' newfound optimism into the Thanksgiving break. Also, the latest Fed survey showed little change in US economic activity during recent weeks. The so-called Beige Book also found employment declined slightly -- and prices rose moderately. We spoke to Patrick Kennedy, Founding Partner at All Source Investment Management.See omnystudio.com/listener for privacy information.

William Bratton, head of cash equity research for Asia Pacific at BNP Paribas, discusses the impact of tariffs and the challenges Asian companies face in choosing between US and China supply chains. He also highlights how AI is being leveraged for cost efficiency, with infrastructure suppliers poised to benefit. Jim Warden, CIO at The Wealth Consulting Group, shares insights on sector rotations, the implications of weak US consumer data on Fed policy, and the strategic shifts investors should consider in light of AI-driven demand.

Ritesh Ganeriwal, Head of Investment and Advisory at Syfe, and Rob Hayworth, Senior Investment Strategy Director at U.S. Bank, dive into the latest U.S.-China trade discussions. They reveal insights on semiconductors, the complexities of chip design, and AI investment opportunities. Ritesh explores select emerging markets and the significance of domestic tech firms. Meanwhile, Hayworth analyzes Fed rate cut possibilities and market reactions, emphasizing the implications for equity outlooks and consumer health this holiday season.

Helen Zhu, Managing Partner and CIO at NF Trinity, shares insights on early US discussions about Nvidia’s H200 chips for China, impacts on supply chains, and current market risks. She details the unwind of the AI trade, warning about credit risks and systemic vulnerabilities. Grace Glockner from Scharf Investments discusses low consumer sentiment and a K-shaped recovery, advising a pivot towards steady companies like those in healthcare rather than high-flying AI stocks. They highlight the importance of selective opportunities for the year ahead.

Mary Ross Gilbert, a senior equity analyst at Bloomberg Intelligence, shares insights on retail trends, focusing on Kohl's return to private labels and Abercrombie's appeal among younger consumers. John Liu, Bloomberg's Executive Editor for Greater China, discusses the challenges of China's PMI data and investment slump, alongside rising Sino-Japan tensions. Jo Mays, a UK politics reporter, analyzes the political pressures faced by Chancellor Rachel Reeves as the UK budget approaches, revealing internal Labour dynamics influencing fiscal strategies.

Masa Takeda, Portfolio Manager at the Hennessy Japan Fund, explores Japan's rising inflation and discusses Prime Minister Takaichi's economic package aimed at addressing it. He predicts gradual BOJ rate hikes and notes the potential benefits of corporate governance reforms for Japanese equities. Adam Coons, CO-CIO at Winthrop Capital Management, weighs in on the S&P's market reversal post-Nvidia earnings, raising concerns about inventory and AI revenue quality. He also addresses crypto volatility and a defensive strategy as year-end approaches.

Join Jensen Huang, NVIDIA's visionary CEO, as he discusses the company's bullish sales forecast, boosting AI accelerator demand amid concerns of a tech bubble. He shares insights on China's market restrictions, facility investments, and production strategies. Clayton Trick from Angel Oak Capital Advisors analyzes recent Federal Reserve minutes, exploring interest rate outlook and inflation trends. He also suggests investment strategies focusing on tech and diversified portfolios. This conversation dives deep into the intersections of AI growth and economic strategies.

Jed Ellerbroek, Portfolio Manager at Argent Capital Management, shares insights on Nvidia's upcoming earnings, discussing AI infrastructure demand and market concentration risks. Bob Diamond, former CEO of Barclays, explores the implications of AI on markets, highlighting risks of repricing and the role of stablecoins in institutional investing. The conversation also touches on private equity opportunities in the finance sector and the challenges posed by tech market volatility and emerging competition from Chinese firms.

Matt Sallee, Executive Vice President at Tortoise Capital, and Kelvin Tay, Regional CIO for UBS Global Wealth Management in Asia, share insights on the current market landscape. Sallee delves into AI-driven capital expenditures and the appeal of Bitcoin miners amidst its recent decline. Tay discusses the impact of geopolitical tensions on Asia-Pacific markets and warns about potential currency interventions. Additionally, they highlight the surprising surge of Pinkfong's IPO, capturing investor interest beyond the 'Baby Shark' phenomenon.

Chris Maxey, Managing Director at Wealthspire Advisors, shares insights on how US labor market data could sway the Fed's decisions, emphasizing the delicate balance between inflation and job growth. Meanwhile, Trinh Nguyen, an Emerging Markets economist at Natixis, outlines a cautious outlook for EM Asia, highlighting fiscal challenges and concerns over export slowdowns. Their discussion touches on how Nvidia's earnings might impact global markets and potential ramifications for emerging economies in 2026.