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Desmond Kuang and Josh Frydenberg

Think Wealth Client Connect
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In conversation with Josh Frydenberg - The Next Market Order: Forces Reshaping Regional Markets

by Desmond Kuang, Chief Investment Officer, Asia, HSBC Private Bank and Premier Wealth; Josh Frydenberg, Chairman, Australia and New Zealand and Senior Regional Adviser for Asia Pacific, Goldman Sachs
Sep 1, 2026

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The global economy is being reshaped by shifting alliances, energy security concerns, and the accelerating demand of the AI era. Understanding these forces is essential to positioning your portfolio for what comes next. In the new episode of the Think Wealth Client Connect series, Desmond Kuang, our Chief Investment Officer, Asia, spoke with Josh Frydenberg, Chairman, Australia and New Zealand and Senior Regional Adviser for Asia Pacific of Goldman Sachs, about the geopolitical, energy and economic shifts defining the regional market outlook and what they mean for investors across the region.

Key themes include:

  • The recent Trump-Xi summit represents a constructive step towards greater geopolitical stability, supported by practical outcome across trade and commerce
  • ASEAN markets can capture benefits of supply chain shifts by playing to their strengths in tech manufacturing, assembly, testing and packaging
  • Middle East conflicts and stronger AI-driven demand for energy have accelerated long-term energy planning, with nuclear power set to feature more prominently
  • Australia is well positioned to benefit from rising global demand for energy, critical minerals, and rare earths, moving up the value chain from mining into processing as the AI boom unfolds

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