Ideas
Tech rally driven by earnings.
The tech rally is fundamentally earnings-driven rather than speculative, especially in Taiwan and Korea, where results and management guidance keep surprising to the upside; investors should focus on earnings delivery, while remaining mindful of valuations.
China tech cost advantages support value.
China tech has comparative advantages from lower labor costs, a large engineering pool, and cheap electricity, which support its value even though earnings delivery may not be immediate.
Gold retains value amid geopolitical tension.
Gold is expensive, but rising geopolitical tensions mean it retains diversification value in a multi-asset portfolio, and investors are likely to buy pullbacks.
Hong Kong property is bottoming.
Hong Kong property is forming a bottom: central office rents had their first QoQ pickup after years of declines, retail is seeing a slow tourist revival, and residential prices and volumes improved. Earnings remain stressed, but the market is pricing in recovery and valuations are now around fair value.
Alibaba T-Head spin-off unlocks value.
Alibaba's potential spin-off and IPO of its T-Head chipmaking unit is mainly a value-realization move, not a funding necessity, because Alibaba is cash-rich and fabless. It unlocks a hidden IP asset for shareholders and explains the positive stock reaction, though the spin-off has limited impact on Alibaba's overall earnings, which remain dominated by e-commerce price wars and food-delivery competition.
China semiconductor self-sufficiency trend is exciting.
China's long-run push for technology self-sufficiency, especially in semiconductors, is an exciting investment trend as top-tier chip companies gain strategic support and access to capital.
Silver to consolidate around $85.
After a historic rally, silver is expected to consolidate toward a more realistic around $85/oz in 2026, even with tight demand-supply, as the silver-to-gold ratio has already fallen sharply from last year's average.
Gold to stay high on risks.
Gold is expected to hold high levels, averaging around $4,400 this year, given geopolitical risk and US policy uncertainty.
Gold International earnings to double.
Gold International is a pure gold play with earnings likely doubling again this year after a 200% rise last year, a strong low-cost acquisition track record, and output growth that should outpace peers.
PBOC signals stronger yuan.
The PBOC's first sub-7 yuan fixing since 2023 is a significant confidence signal: Beijing is comfortable with yuan appreciation and wants the yuan to capture a share of global money shifting away from the dollar, while strong exports allow China to absorb a stronger currency.
Sub-7 fix lifts Chinese assets.
The sub-7 fix is a positive signal not only for the yuan but for Chinese assets broadly, showing policy confidence and potentially attracting global flows into China.
AI bubble will pop soon.
A bubble is forming in AI-related assets, with companies such as OpenAI being valued extraordinarily despite little profit; investors are rushing to capture valuations before the party ends, and the bubble will pop before too long.
10-year JGB yields have upside.
The rise in Japan's 10-year JGB yields mostly reflects healthy nominal growth and inflation rather than fiscal instability; with inflation above 2% and yields around 2.2%-2.3%, there is still upside in 10-year yields.
Yen strengthens toward 154.
The yen should ultimately benefit from rate differentials and valuation, with USD/JPY likely capped near 160 in the near term and targeting below 155 and then 154 on a multi-month horizon once markets stabilize.
Avoid long-end JGB duration.
Investors should avoid duration in JGBs and keep positions at 10-year tenors or below because the BOJ is likely to stick to its taper plan and will not rescue the long end, while further reductions in super-long supply have limited room.
Yuan appreciation toward 6.92.
The PBOC appears comfortable allowing measured renminbi appreciation, especially with a soft dollar outlook, and the sub-7 fix plus a high onshore FX conversion rate could support further yuan gains; she forecasts USD/CNY at 6.92.
This Bloomberg Markets video, published January 23, 2026,
features Ivy Ng, Robert Lee, Michelle Leung, Mark Cranfield, Taro Kimura, Frances Cheung
discussing EWT, Korea technology stocks, CQQQ, GLD, Hong Kong property stocks, BABA, Chinese semiconductors, SILVER, 2259.HK, CNY, FXI, AI-SECTOR, 10-year JGBs, USD/JPY, Long-end JGBs.
16 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Ivy Ng,
Robert Lee,
Michelle Leung,
Mark Cranfield,
Taro Kimura,
Frances Cheung
· Tickers:
EWT,
Korea technology stocks,
CQQQ,
GLD,
Hong Kong property stocks,
BABA,
Chinese semiconductors,
SILVER,
2259.HK,
CNY,
FXI,
AI-SECTOR,
10-year JGBs,
USD/JPY,
Long-end JGBs
