Asia Pacific Capital Tracker Q4 2023: First-mover advantage

Buoyed by China's resilience, Asia Pacific investment activity edged 3% higher in Q4, reversing over a year of declines

January 23, 2024

2023 ended on a high note as Asia Pacific investment volumes in Q4 climbed 3% year-on-year (YoY) to reach US$31.6 billion.

China regained its ground as the region's powerhouse with US$11.1 billion in deals, largely driven by asset sales from indebted developers. Australia and Hong Kong experienced marginal upticks of 14% and 6% respectively, while Singapore (-29%) and Japan (-53%) saw dips, with the latter hit by investors’ wariness over the Bank of Japan’s negative interest rate policy.

With major Asian economies poised for an upcoming monetary easing cycle, investors are expected to adopt a more aggressive stance in the first half of 2024, deploying capital more swiftly across the region to secure the first-mover advantage.

Download our latest Capital Tracker to uncover the key factors influencing investor strategies and gain a clear picture of the opportunities and challenges that lie ahead in 2024.

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