As the globe puzzles over US President Donald Trump’s sudden pivot toward regime change and plunder, investors can’t seem to get enough of Asia. This region’s equity bourses are enjoying their best-ever start to a year, as evidenced by the 4% jump in the
MSCI Asia Pacific Index so far in 2026. Local foreign exchange gushes are registering the best start to a year since at least 2023. Tech-centric bourses in South Korea and Taiwan are hitting new record highs.
Though this latter dynamic also reflects the global artificial intelligence trade, it doesn’t detract from the point that Trump’s geopolitical adventurism in
Venezuela — and perhaps elsewhere — is making Asian assets great again.
US stocks are up, too, throwing some cold water on a revival of the “sell America” trade. Yet there’s clearly a renewed impetus for investors to find opportunities outside the US economy, which is about to go through some things.
