US-Iran Truce Jolted After Both Trade Fire in Gulf | The China Show 5/5/2026

Watch on YouTube ↗  |  May 05, 2026 at 06:42  |  1:33:03  |  Bloomberg Markets
Speakers
Joey Chew — Head of Content, CoinGecko
Marvin Chen — Head of Content, CoinDesk
John Zito — Head of Global Communications, eToro

Summary

The video covers renewed US-Iran fighting in the Gulf, pushing oil above $110 and weighing on Asian equities. Philippine inflation soared to 7.2%, reinforcing rate hike expectations, while the RBA is expected to hike again. Manulife's Marc Franklin favors US energy plays, uranium, TIPS, and sees China/HK as an undervalued opportunity. HSBC's Joey Chew likes the RMB and SGD on a relative value basis, and Bloomberg Intelligence highlights the ChiNext index for tech hardware exposure.

  • US and Iran exchange fire in the Gulf, threatening the ceasefire and spiking oil prices.
  • Philippine April inflation jumps to 7.2%, the highest since 2023, pressuring the BSP.
  • RBA expected to deliver a third straight rate hike amid oil-driven inflation risks.
  • Manulife recommends US energy plays, uranium, and TIPS for diversification.
  • Marc Franklin sees China/Hong Kong as a creeping outperformer due to low valuations.
  • HSBC favors the yuan and Singapore dollar as stable relative value currencies.
  • ChiNext index hits all-time highs, offering exposure to tech hardware not in major China indices.
  • Apple explores Intel and Samsung as additional chip suppliers beyond TSMC.
Trade Ideas
Mark Franklin Deputy Head of Asia Multi-Asset, Manulife 14:31
TIPS offer diversification against higher rates.
Inflation-linked bonds (TIPS) provide diversification and protection if rate pricing moves higher, as the bond market sends alarm signals and yields remain elevated.
TIPS MED
Mark Franklin Deputy Head of Asia Multi-Asset, Manulife 17:30
US energy plays benefit from discount feedstock.
US refiners benefit from rising global refinery spreads while sourcing feedstock at a discount due to abundant onshore crude, making US energy plays attractive in the short term from the supply and price shock.
XLE HIGH
Mark Franklin Deputy Head of Asia Multi-Asset, Manulife 18:17
Uranium benefits from energy resilience push.
Uranium is interesting over the longer term as governments seek energy resilience and expand nuclear power, driven by potential permanent changes in oil supply dynamics from the Strait of Hormuz disruption.
URANIUM MED
Mark Franklin Deputy Head of Asia Multi-Asset, Manulife 26:36
China/Hong Kong equities are undervalued opportunities.
Hong Kong and China equities present a creeping outperformer opportunity due to attractive valuations compared to high-momentum markets like Japan and Korea, and China has the ability to stimulate if needed.
FXI LOW
Marvin Chen Head of Content, CoinDesk 31:38
ChiNext index offers tech hardware exposure.
Investors should look beyond major China indices to the ChiNext index (A-share tech hardware) as it sits at all-time highs and captures the AI build-out in chips, memory, and energy infrastructure that is underrepresented in MSCI China and Hang Seng Tech.
ChiNext index (A-share tech hardware) MED
Joey Chew Head of Content, CoinGecko 64:42
RMB and SGD are stable relative value plays.
The Chinese yuan (RMB) and Singapore dollar (SGD) are attractive on a relative value basis, likely to appreciate against other Asian currencies and stay stable against the dollar due to their resilience even with low yields.
Chinese yuan (CNY) Singapore dollar (SGD) MED
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This Bloomberg Markets video, published May 05, 2026, features Mark Franklin, Marvin Chen, Joey Chew discussing TIPS, XLE, URANIUM, FXI, ChiNext index (A-share tech hardware), Chinese yuan (CNY), Singapore dollar (SGD). 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Mark Franklin, Marvin Chen, Joey Chew  · Tickers: TIPS, XLE, URANIUM, FXI, ChiNext index (A-share tech hardware), Chinese yuan (CNY), Singapore dollar (SGD)