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 <a href="mailto:AskResearch@hsbc.com" rel="noopener noreferrer" target="_blank">AskResearch@hsbc.com</a> 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<hr> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> 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.

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 <a href="mailto:AskResearch@hsbc.com" rel="noopener noreferrer">AskResearch@hsbc.com</a> 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 <a href="https://acast.com/privacy" rel="noopener noreferrer">acast.com/privacy</a> for more information.

2025: Expectation vs reality

HSBC's Fred Neumann and Herald van der Linde break down the key drivers shaping economies and equity markets across Asia. Subscribe now.&nbsp;For more from HSBC Global Research,email us at <a href="mailto:askresearch@hsbc.com" rel="noopener noreferrer" target="_blank">AskResearch@hsbc.com</a>.&nbsp;Stay connected and access free to view reports and videos from HSBC Global Research follow us on LinkedIn <a href="https://www.linkedin.com/feed/hashtag/hsbcresearch/" rel="noopener noreferrer" target="_blank">https://www.linkedin.com/feed/hashtag/hsbcresearch/</a>&nbsp;or click here: <a href="https://www.gbm.hsbc.com/insights/global-research" rel="noopener noreferrer" target="_blank">https://www.gbm.hsbc.com/insights/global-research</a>.<hr> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.

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HSBC's Fred Neumann and Herald van der Linde break down the key drivers shaping economies and equity markets across Asia. Subscribe now.   For more from HSBC Global Research, email us at AskResearch@hsbc.com.   Stay connected and access free to view reports and videos from HSBC Global Research follow us on LinkedIn https://www.linkedin.com/feed/hashtag/hsbcresearch/ or click here: https://www.gbm.hsbc.com/insights/global-research. Hosted on Acast. See acast.com/privacy for more information.

HSBC's Fred Neumann and Herald van der Linde break down the key drivers shaping economies and equity markets across Asia. Subscribe now.&nbsp;For more from HSBC Global Research,email us at <a href="mailto:askresearch@hsbc.com" rel="noopener noreferrer">AskResearch@hsbc.com</a>.&nbsp;Stay connected and access free to view reports and videos from HSBC Global Research follow us on LinkedIn <a href="https://www.linkedin.com/feed/hashtag/hsbcresearch/" rel="noopener noreferrer">https://www.linkedin.com/feed/hashtag/hsbcresearch/</a>&nbsp;or click here: <a href="https://www.gbm.hsbc.com/insights/global-research" rel="noopener noreferrer">https://www.gbm.hsbc.com/insights/global-research</a>. Hosted on Acast. See <a href="https://acast.com/privacy" rel="noopener noreferrer">acast.com/privacy</a> for more information.

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