Under the Banyan Tree by HSBC Global Research

Fred welcomes Senior ASEAN Economist Yun Liu to the podcast to talk Vietnam's lofty economic goals and whether a growth target of at least 10% year-on-year is achievable.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts.Email us at AskResearch@hsbc.com for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/kGTvZk9 Hosted on Acast. See acast.com/privacy for more information.

As Japan gears up for a general election, Fred and Herald discuss what the outcome could mean for Asia's second-largest economy, and why the world is taking notice.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts.Email us at AskResearch@hsbc.com for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/t9TcRsm Hosted on Acast. See acast.com/privacy for more information.

Herald welcomes fellow Asia Equity Strategist Prerna Garg to the studio to discuss the role of retail investors in the region, how they're reshaping the investment landscape and where they're choosing to put their money.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts.Email us at AskResearch@hsbc.com for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/C9DGRGr Hosted on Acast. See acast.com/privacy for more information.

With geopolitics, the energy transition and changing investor preferences all affecting the price of commodities right now, Fred welcomes Paul Bloxham, Chief Economist for Global Commodities to the podcast.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts.Email us at AskResearch@hsbc.com for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/srWTwj9 Hosted on Acast. See acast.com/privacy for more information.

Fred and Herald are joined by Chief China Economist Jing Liu to discuss the major talking points for Chinese markets and economics in the Year of the Horse.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts.Email us at AskResearch@hsbc.com for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/xvClCkS Hosted on Acast. See acast.com/privacy for more information.

Fred and Herald kick off 2026 with a round-up of what we think could be the highlights for Asian markets and economics in 2026.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts.Email us at AskResearch@hsbc.com for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/7XdVKcJ Hosted on Acast. See acast.com/privacy for more information.

In our final episode of the year, Herald and Fred reflect on what surprised them most across Asian markets and economics in 2025.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts.Email us at AskResearch@hsbc.com for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/H7jvjLS Hosted on Acast. See acast.com/privacy for more information.

Fred's got his hands on Herald's latest compilation of quirky facts and stats. From giant shopping malls to a company you've probably never heard of outperforming Google, this episode's for anyone looking to flex some knowledge at holiday parties.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts.Email us at AskResearch@hsbc.com for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/qKmt7KV Hosted on Acast. See acast.com/privacy for more information.

Herald turns interviewer this week and Fred's in the spotlight, as our co-hosts discuss trade, consumption, central bank action and more across Asia in 2026.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts.Email us at AskResearch@hsbc.com for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/vH9rXCW Hosted on Acast. See acast.com/privacy for more information.

Dr Murat Ulgen joins Herald and Fred to talk AI, US outflows and Asia's influence over global emerging markets, all in the context of EM's outperformance in 2025.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts.Email us at AskResearch@hsbc.com for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/QrL2kKQ Hosted on Acast. See acast.com/privacy for more information.

Herald takes on the role of interviewee this week, as he and Fred look at what's driven Asian equity markets in 2025, and what investors are likely to be watching in the year ahead.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts.Email us at AskResearch@hsbc.com for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/wvPzpMC Hosted on Acast. See acast.com/privacy for more information.

Global Head of Luxury and Consumer Research Erwan Rambourg joins Herald for a lively chat on the state of the luxury market across Asia and beyond.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts.Email us at AskResearch@hsbc.com for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/gdmsgks Hosted on Acast. See acast.com/privacy for more information.

Fred welcomes HSBC's Chief Precious Metals Analyst James Steel to the podcast for a comprehensive look at the recent gold rally and the critical role that markets including China and India play in the global gold trade.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts.Email us at AskResearch@hsbc.com for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: Hosted on Acast. See acast.com/privacy for more information.

ASEAN Economist Aris Dacanay joins Herald and Fred to explain why Southeast Asian economies could actually see rising market share across various sectors as a result of US import tariffs.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts.Email us at AskResearch@hsbc.com for any questions.Click here for appropriate Disclosures, including analyst certifications, and Disclaimers that must be viewed with this podcast: https://www.research.hsbc.com/R/101/W9vcfSd Hosted on Acast. See acast.com/privacy for more information.

Recorded in front of a live audience on 21 October 2025, Fred and Herald are joined on stage in Hong Kong by Jing Liu, Yuqian Ding and Frank Lee for a comprehensive round-up of the major macro and micro talking points in Asia.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts.Email us at AskResearch@hsbc.com for any questions.Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/zJCkN77 Hosted on Acast. See acast.com/privacy for more information.

Herald catches up with Chief China Economist Jing Liu as Beijing gears up for its fourth plenum, where the economic agenda for next five years will be set.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts.Email us at AskResearch@hsbc.com for any questions.Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/dxd6clm Hosted on Acast. See acast.com/privacy for more information.

Fred has the studio all to himself, and that can only mean one thing: a comprehensive review of the key talking points shaping Asian economics from tariffs to central bank action and, of course, AI.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts.Email us at AskResearch@hsbc.com for any questions.Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/xglRmRg Hosted on Acast. See acast.com/privacy for more information.

From inflation to political tensions, Paul Bloxham, Chief Economist for Global Commodities, joins Fred to talk through various factors keeping commodity markets deceptively flat at the moment.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts.Email us at AskResearch@hsbc.com for any questions.Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/S9wjzKP Hosted on Acast. See acast.com/privacy for more information.

Pranjul Bhandari, Chief India Economist and Strategist at HSBC, joins Fred to discuss the outlook for India's economy at a time of higher-than-expected US tariffs, visa changes and domestic reform.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts.Email us at AskResearch@hsbc.com for any questions.Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/lTWL7T7 Hosted on Acast. See acast.com/privacy for more information.

With the Fed lowering interest rates, and talk of similar cuts in Asia, Fred and Herald discuss how dynamics in the region differ from the US, and what the tug-of-war between growth and inflation means for Asian stock markets.For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on Apple Podcasts or Spotify or wherever you get your podcasts.Email us at AskResearch@hsbc.com for any questions.Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/6gbsHL7 Hosted on Acast. See acast.com/privacy for more information.