Asian markets accept that free trade with the US is a thing of the past, says UOBAM
Colin Ng, UOBAM's Head of Asian Equities, explains, "The majority of Asian economies are likely to recover relatively quickly from the direct impact of US tariffs. A slowdown in exports to the US can be offset by trading with other countries, and in particular, with their Asian neighbours"
"This is because, on the one hand, more and more Asian companies are building globally recognisable brands, and on the other, the Asian consumer base is now large and affluent enough to absorb these products. That is why ASEAN has taken over from the US as China's biggest trading partner."
The UOBAM Special Report, entitled "Will US tariffs detail Asia's growth?" looks at the short- and longer-term implications of US tariffs on seven markets in Asia, including the big exporters such as Korea, Taiwan region and Singapore as well as those more domestically-focused such as Malaysia and Indonesia.
Ng warns that the risk to Asian economies comes instead from the indirect impact of US tariffs, that is. if the tariffs result in a global growth slowdown or a recession. This is turn would cause the global demand for Asian exports to shrink. However, based on the economic data released so far, Ng says this is not UOBAM's base case.
Read the full report: https://www.uobam.com.sg/insights/will-us-tariffs-derail-asia-growth.page
About UOB Asset Management
UOB Asset Management Ltd (UOBAM) is a wholly-owned subsidiary of United Overseas Bank Limited. Established in 1986, UOBAM has nearly 40 years of experience in managing collective investment schemes and discretionary funds in Singapore, making us among the largest unit trust managers by assets under management. As of 30 June 2025, we manage 65 unit trusts in Singapore and together with our subsidiaries, oversees S$37.6 billion in clients' assets.
Headquartered in Singapore, UOBAM has a strong presence across Asia, with business and investment offices in Brunei, Indonesia, Japan, Malaysia, Thailand and Vietnam. Our network includes UOB Islamic Asset Management Sdn Bhd in Malaysia, a joint venture with Ping An Fund Management Company Limited and strategic alliances with partners such as Wellington Management Singapore.
UOBAM is one of the region's most awarded asset managers, with over 380 awards won. In 2025, we were recognised as the Best Regional Asset Management Company by the Asia Asset Management and previously named Best Asset Management House in Asia – 20 Years in 2023. Our digital innovation has also earned top honours, including Best Digital Wealth Management in Asia[1] and Best Robo Advisory Initiative[2] for 3 consecutive years as of 2024.
As a leader in sustainable investing, UOBAM was awarded Best application of ESG in ASEAN[3] (2023) and has received multiple sustainability accolades in Indonesia and Thailand. Our artificial intelligence capabilities were also recognised with the Most Innovative Application of Artificial Intelligence (ASEAN) for 2 consecutive years[4].
Connect with us: LinkedIn | Facebook
[1] Awarded by Asia Asset Management
[2] Awarded by The Digital Banker for the Global Retail Banking Innovations Award
[3] Awarded by Asia Asset Management
[4] As of 2025, by Asia Asset Management
View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/asian-markets-accept-that-free-trade-with-the-us-is-a-thing-of-the-past-says-uobam-302511757.html
SOURCE UOB Asset Management
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
12 minutes ago
- Yahoo
Swiss luxury watchmakers drop after Trump tariff shock
(Reuters) -Swiss luxury watchmakers' shares, including Richemont and Swatch, were volatile in early trade on Monday, underscoring the challenges for the industry after U.S. President Donald Trump imposed a 39% tariff on Swiss imports. The sector, which exported watches worth 26 billion Swiss francs ($32.79 billion) in 2024, is already under pressure from a stronger franc and falling global demand. Watch exports are on track to hit their lowest levels since the pandemic in 2020. Shares in Richemont and Swatch were both down 0.8% at 0825 GMT, paring back losses after earlier falling as much as 3.4%, and 5%, respectively. Monday was the first day of trading following the U.S. tariff announcement, as markets were closed on Friday for the Swiss National Day. "The impact of the U.S. tariffs, if they stay at 39%, could be devastating for numerous brands in Switzerland," said Jean-Philippe Bertschy, an analyst at Vontobel. "We expect a strong negative impact for watches in the entry- to mid-price segments," he said. The U.S. is Switzerland's leading foreign market for watches, accounting for 16.8% of exports worth about 4.4 billion francs ($5.45 billion), according to the Federation of the Swiss Watch Industry. Shahzaib Khan, who runs a business exporting Swiss luxury watches, said many brands would not be able to deal with the 39% tariff rate. "I suspect ... there won't be any goods being shipped to the U.S. until the situation clears," he said. While Richemont generated 32% of its full-year 2025 sales in the watches category, its exposure to the United States market should be just below 10% of overall sales, analysts at Jefferies said. Swatch, meanwhile, generated 18% of its 2024 sales in the United States, with its CEO saying the company had raised prices by 5% following the first tariffs announcement in April. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12 minutes ago
- Yahoo
Analysis-Korea, US prepare for summit with details of trade deal unresolved
By Hyunjoo Jin and Jihoon Lee SEOUL (Reuters) -As South Korea and the United States prepare for a summit of their leaders, topics left unresolved by a recent trade deal provide scope for more disputes between the key allies and trade partners, six former negotiators and experts said. President Donald Trump may use the summit with counterpart Lee Jae Myung to seek more concessions on defence costs and corporate investments, left out of the deal, while non-tariff barriers and currency could prove thorny issues, experts said. No official summit date has been disclosed, though Trump last week gave a timeframe of two weeks. The absence of a written agreement underpinning last week's talks could open the way for disputes, with some differences already emerging in the two sides' accounts of the deal. Key among these was Sunday's denial by a South Korean presidential adviser of U.S. claims that it would take 90% of the profit from project investments of $350 billion by South Korea, which also agreed to open up its domestic rice market. "Even a binding deal like the FTA has been efficiently scrapped," warned Choi Seok-young, a former chief negotiator for the Korea-U.S. free trade deal, signed in 2007. "And this is just promise." Last week's pact was scaled down from South Korea's previous plans for a package deal on trade, security and investment envisioned in the run-up to the summit between Trump and the newly-elected Lee. But Japan struck a deal with the United States sooner than expected, spurring South Korea into a scramble for a trade-focused pact, leaving issues of security and investment for the coming summit, presidential adviser Kim Yong-beom said. Uncertainty clouds plans for $350 billion in funds Trump has said South Korea would invest in the United States in projects "owned and controlled by the United States" and selected by him, though he gave few details of the plan's structure or timing. The allies face challenges in ironing out details of the fund at upcoming working-level talks, South Korean Finance Minister Koo Yun-cheol told reporters on Friday. "People say the devil is in the details," he added. In a social media post, Commerce Secretary Howard Lutnick gave an assurance of "90% of the profits going to the American people", while White House spokesperson Karoline Leavitt said part would go to the U.S. government to help repay debt. But Kim, the presidential adviser, said the two sides did not discuss profit distribution during talks, and South Korea expected the profit to be "reinvested" in the United States. 'POLITICAL RHETORIC' The idea of the United States potentially taking most of the profit is "hard to understand in a civilised country", he added, while dismissing as "political rhetoric" Washington's claim that it would make all decisions about the fund. South Korea had added a safety mechanism to reduce financing risk, including U.S. commitments to buy products from the projects, under an "offtake" clause and invest in commercially feasible projects, he said. Seoul officials have said $150 billion would go to the shipbuilding industry, with the rest earmarked for areas such as chips, batteries, critical minerals, biotechnology, nuclear power and other strategic industries. The specifics of the structure have not been determined, said Kim, adding that loans and guarantees make up a majority of the funds, with equity investments accounting for a small part. Leavitt said South Korea would provide "historic market access to American goods like autos and rice," echoing earlier comments by Trump. But South Korea said repeatedly there had been no agreement on the agriculture market, including beef and rice, despite strong pressure from Washington. Trump expressed keen interest in Korea's quarantine process for fruits and vegetables, Seoul said, improvements to which will figure in planned technical talks on non-tariff barriers that will also cover vehicle safety rules, but gave no details. Other non-tariff barriers such as regulation of Big Tech could be hurdles. "We cannot be relieved because we do not know when we will face pressure from tariffs or non-tariff measures again," Trade Minister Yeo Han-koo said last week on returning from Washington. Defence costs are expected to emerge as a key issue during the upcoming summit, with Trump having long said South Korea needed to pay more for the U.S. troop presence there. In addition to the $350 billion, Trump said South Korea agreed to invest a large sum of money in the United States, to be announced during the summit, which he said on July 30 would be held within two weeks. The allies are holding working level-talks on currency policy, put on the agenda at April's opening round of trade talks.
Yahoo
12 minutes ago
- Yahoo
Pink Hydrogen Global Strategic Business Report 2025: Nuclear Decarbonization Initiatives Throw the Spotlight on Pink Hydrogen as a Low-Emission Fuel
Pink hydrogen offers significant market opportunities by leveraging nuclear energy for stable, efficient hydrogen production. Key growth is expected in countries with strong nuclear infrastructure like France, U.S., and Canada, and in sectors like steel-making and heavy transport. It addresses grid stability and carbon neutrality while advancing hydrogen diversification. Pink Hydrogen Market Dublin, Aug. 04, 2025 (GLOBE NEWSWIRE) -- The "Pink Hydrogen - Global Strategic Business Report" has been added to global market for Pink Hydrogen was valued at US$6.2 Billion in 2024 and is projected to reach US$32.3 Billion by 2030, growing at a CAGR of 31.9% from 2024 to 2030. Why Is Pink Hydrogen Emerging as a Strategic Link Between Nuclear Energy and Decarbonized Hydrogen Production?Pink hydrogen-produced via electrolysis powered by nuclear energy-has emerged as a strategically vital subsegment of the clean hydrogen economy. Unlike green hydrogen, which is generated using renewable sources like wind or solar, pink hydrogen leverages nuclear power's consistent baseload generation to operate electrolysis units at stable, high efficiency. This positioning makes pink hydrogen particularly valuable in energy systems where nuclear capacity is significant and grid stability is a hydrogen being increasingly recognized as a cornerstone for decarbonizing hard-to-abate sectors such as steelmaking, heavy transportation, refining, and chemical manufacturing, pink hydrogen offers an advantage in scalability, reliability, and carbon neutrality. It provides a clean hydrogen pathway with minimal land footprint and without the intermittency challenges associated with solar or wind. In countries like France, the United States, Russia, and Canada, where nuclear power already contributes significantly to the national energy mix, pink hydrogen is gaining institutional and commercial support as a complementary route to green and blue pink hydrogen production can be aligned with off-peak nuclear power generation, optimizing reactor utilization and enhancing grid balancing. The dual benefit of decarbonizing hydrogen while improving nuclear asset economics is creating a powerful policy and market case for pink hydrogen. With global hydrogen demand expected to multiply by 2050 under net-zero scenarios, pink hydrogen is becoming a critical vector in national hydrogen Countries and Sectors Are Likely to Drive Pink Hydrogen Adoption?Pink hydrogen adoption is likely to be concentrated in countries with strong nuclear infrastructure and decarbonization mandates. France, with its heavy reliance on nuclear power, has positioned pink hydrogen as a pillar in its national hydrogen strategy. Its integration into industrial clusters-particularly in steel, chemicals, and transport-is being actively promoted through public-private partnerships. Canada, with its CANDU reactors and hydrogen innovation clusters, is similarly poised to become a pink hydrogen the U.S., states like Illinois and Pennsylvania are exploring pink hydrogen pilot programs leveraging existing nuclear power plants. The Bipartisan Infrastructure Law and the Inflation Reduction Act have introduced incentives and grants for clean hydrogen projects, explicitly including nuclear-powered electrolysis. In Japan and South Korea, pink hydrogen is under evaluation for its role in hydrogen-based mobility, including fuel cell vehicles and hydrogen-powered sectors that demand high-purity hydrogen and operate near nuclear plants-such as ammonia production, oil refining, and specialty chemicals-are expected to be early adopters. Steelmakers are also looking into pink hydrogen for replacing coking coal in direct reduced iron (DRI) processes. Given that pink hydrogen does not rely on variable renewables, it offers an operationally consistent solution for high-load, high-uptime industrial Is Driving Growth in the Global Pink Hydrogen Market?The growth in the global pink hydrogen market is driven by increasing focus on full-spectrum hydrogen diversification, rising investments in nuclear innovation, and policy incentives promoting low-carbon hydrogen production. As governments and industries move toward net-zero emissions targets, pink hydrogen is emerging as a pragmatic solution where nuclear energy is already a dominant or growing part of the capacity to produce hydrogen at scale using stable, non-intermittent energy sources addresses a critical limitation of green hydrogen. Coupled with improvements in electrolysis efficiency and modularization, pink hydrogen is gaining momentum as part of multi-vector energy transition strategies. Infrastructure investments, carbon pricing mechanisms, and clean hydrogen tax credits are improving its financial viability relative to grey and blue hydrogen international collaboration in nuclear-hydrogen integration-such as joint R&D between Europe, North America, and East Asia-is creating pathways for knowledge transfer and shared infrastructure. As public opinion shifts toward recognizing nuclear energy's role in climate mitigation, pink hydrogen stands to benefit from regulatory alignment, project de-risking, and global demand for decarbonized fuels. With rising global momentum, pink hydrogen is poised to secure a key position in the evolving hydrogen economy. Key Insights: Market Growth: Understand the significant growth trajectory of the Liquid Form segment, which is expected to reach US$25.1 Billion by 2030 with a CAGR of a 33.7%. The Gas Form segment is also set to grow at 26.6% CAGR over the analysis period. Regional Analysis: Gain insights into the U.S. market, valued at $1.6 Billion in 2024, and China, forecasted to grow at an impressive 30.1% CAGR to reach $4.8 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific. Report Features: Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030. In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa. Company Profiles: Coverage of players such as Air Liquide, Air Products and Chemicals Inc., Constellation Energy Group, Exelon Corporation, GE Hitachi Nuclear Energy and more. This edition integrates the latest global trade and economic shifts into comprehensive market analysis. Key updates include: Tariff and Trade Impact: Insights into global tariff negotiations across 180+ countries, with analysis of supply chain turbulence, sourcing disruptions, and geographic realignment. Special focus on 2025 as a pivotal year for trade tensions, including updated perspectives on the Trump-era tariffs. Adjusted Forecasts and Analytics: Revised global and regional market forecasts through 2030, incorporating tariff effects, economic uncertainty, and structural changes in globalization. Includes historical analysis from 2015 to 2023. Strategic Market Dynamics: Evaluation of revised market prospects, regional outlooks, and key economic indicators such as population and urbanization trends. Innovation & Technology Trends: Latest developments in product and process innovation, emerging technologies, and key industry drivers shaping the competitive landscape. Competitive Intelligence: Updated global market share estimates for 2025 (E), competitive positioning of major players (Strong/Active/Niche/Trivial), and refined focus on leading global brands and core players. Expert Insight & Commentary: Strategic analysis from economists, trade experts, and domain specialists to contextualize market shifts and identify emerging opportunities. Key Attributes: Report Attribute Details No. of Pages 139 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $6.2 Billion Forecasted Market Value (USD) by 2030 $32.3 Billion Compound Annual Growth Rate 31.9% Regions Covered Global Key Topics Covered: MARKET OVERVIEW World Market Trajectories Tariff Impact on Global Supply Chain Patterns Pink Hydrogen - Global Key Competitors Percentage Market Share in 2025 Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2025 MARKET TRENDS & DRIVERS Nuclear Decarbonization Initiatives Throw the Spotlight on Pink Hydrogen as a Low-Emission Fuel Government Investments in Hydrogen Economy Strategies Propel Nuclear-Electrolytic Hydrogen Production Integration of Electrolyzers With Nuclear Plants Expands Feasibility of 24/7 Hydrogen Generation Need for Baseload Low-Carbon Hydrogen Sources Strengthens Business Case for Pink Hydrogen Development of High-Temperature Electrolysis (HTE) Systems Enhances Energy Efficiency Strategic Focus on Energy Diversification in Net-Zero Plans Accelerates Pink Hydrogen Research Global Push for Energy Security Spurs Investment in Domestic Hydrogen Production Routes Rising Demand for Green Industrial Feedstocks Expands Use Cases for Pink Hydrogen in Steel and Chemicals Nuclear Plant Life Extension Programs Create Long-Term Stability for Hydrogen Co-Production Technology Neutral Hydrogen Roadmaps in North America and Europe Support Pink Hydrogen Parity Stakeholder Debate Over Color Taxonomy Promotes Awareness and Differentiation of Hydrogen Types Collaborations Between Utility Providers and Electrolyzer OEMs Accelerate Pilot Project Deployments International Climate Finance Mechanisms Begin to Recognize Nuclear-Linked Hydrogen as Zero-Carbon Expansion of Hydrogen Hubs and Multi-Carrier Infrastructure Supports Scalability of Pink Hydrogen Need for Grid Flexibility and Curtailment Mitigation Promotes Hydrogen as Storage for Nuclear Output Public Sentiment and Policy Debate Over Nuclear Power Impact Long-Term Pink Hydrogen Acceptance Fuel Cell Adoption in Rail and Maritime Transport Generates Demand for Scalable Hydrogen Supply Rising Electrolyzer Efficiency and Cost Declines Improve LCOH Metrics for Nuclear-Sourced Hydrogen Cross-Border Hydrogen Trade Agreements Stimulate Demand for Technology-Agnostic Hydrogen Supply Decentralization of Hydrogen Production Supports Co-Siting With Advanced Modular Reactors (SMRs) FOCUS ON SELECT PLAYERS Some of the 37 companies featured in this Pink Hydrogen market report include: Air Liquide Air Products and Chemicals Inc. Constellation Energy Group Exelon Corporation GE Hitachi Nuclear Energy Hydrogen Systems (Denmark) Iberdrola SA ITM Power plc Linde Plc Nel ASA NuScale Power OKG Aktiebolag Plug Power Inc. Rolls-Royce Holdings plc Sembcorp Industries SGH2 Energy Siemens Energy SK Ecoplant Toshiba Corporation Toshiba Energy Systems & Solutions Corp. For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Pink Hydrogen Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
