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Nicholas Spiro
Nicholas Spiro is a partner at Lauressa Advisory, a specialist London-based real estate and macroeconomic advisory firm. He is an expert on advanced and emerging economies and a regular commentator on financial and macro-political developments.
Nicholas Spiro is a partner at Lauressa Advisory, a specialist London-based real estate and macroeconomic advisory firm. He is an expert on advanced and emerging economies and a regular commentator on financial and macro-political developments.
An uneven rebound is favouring established operators as tight supply constraints raise the barriers to entry.
Reversing the yen’s long-term decline ultimately rests on Japan’s ability to take its real interest rates out of negative territory – without triggering market panic.
While the premium to luxury end of India’s property market is thriving, the dramatic shortage at the low-to-mid-end is coming under scrutiny.
China’s two-speed economy stems from the shift to new growth engines but the export boom it has created is doing little for jobs or consumption.
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Suitable sites for conversion to student housing are dwindling while questions about scalability and liquidity are coming into sharper focus.
Investors nervous about the dominance of South Korean and Taiwanese chipmakers can’t afford to ignore them.
As Hong Kong, India and Japan show, sharp divergences within a market defy broad-brush generalisations.
While forward guidance often proved counterproductive, it is the US central bank’s job to inform markets about the outlook for monetary policy, not the other way round.
The draw of safe-haven assets in these cities sees more Chinese becoming permanent residents – a trend Beijing’s clampdown on capital outflows may even encourage.
The continued slide in the yen has raised concern, but what happens in the bond market will determine whether the bearishness extends far beyond Japan.
The AI trade has shown gaps in Hong Kong’s stock market, but the share sale boom suggests it is set to capitalise on Beijing’s AI ambitions.
Even if the current AI boom falters, demand for digital infrastructure in Asia – especially in developing countries – will remain strong.
Investors have flocked to tech-heavy markets, but looming US interest rate rises and volatility fears could see India’s star shine again.
Unlike in other markets, Southeast Asia’s malls are in a good situation as they embrace experiential retail and adapt to consumer tastes.
As energy security becomes a more potent force, stress tests for countries vulnerable to supply disruptions are likely to become more severe.
While the drivers behind Tokyo’s outbound capital flow accentuate challenges in the domestic market, Japanese real estate still shows signs of promise.
Rising bond yields are doing some of the Fed’s work, as are investor fears over the US central bank’s independence under Kevin Warsh.
While tech giants are driving South Korea’s stock market higher, the country’s currency is struggling and foreign investors are pulling out.
Geopolitical forces, policy support, attractive rents and lower interest rates have combined to improve the outlook for both markets.
Investors’ desire for firms with ‘heavy assets, low obsolescence’ has turned the spotlight on commodities, a sector starved of capital.
The shock absorbers of supply constraints, a flight to quality, the search for safe havens and domestic demand provide a robust base.
Stakes are high for Asia’s tech-driven economies amid a global sell-off in bond markets that signals investor fears.
While Japan remains the most developed market, property investors are finding new opportunities elsewhere in the region.
China weaponising rare earths turned the tables on Trump, showing how unprepared Western governments and firms were for a full trade war.
A variety of local factors as well as shifts in geopolitics and global commercial real estate are working in Hong Kong’s favour.
Reserve Bank of Australia is less an outlier than a harbinger of global monetary trends in the wake of war-induced supply shocks.
China’s relative resilience to the energy shock and its cheap and abundant electricity supply are an advantage in the AI race.
The war in Iran might as well be over for investors as positive sentiment, strong corporate earnings and the AI boom lift Asian markets.
Hong Kong is just one of several markets across the Asia-Pacific seeing rapid growth in investment by private wealth.
