Experts

Stephen Chang

Portfolio Manager, Asia

Mr. Chang is a managing director and portfolio manager in the Hong Kong office, managing Asia portfolios and developing PIMCO's business in this space. He is also co-chair of PIMCO's Asia-Pacific Portfolio Committee. Prior to joining PIMCO in 2018, he was a managing director and head of Asian fixed income for J.P. Morgan Asset Management, responsible for managing bond portfolios in the region and setting macro and asset allocation strategy as part of the broader emerging market debt team. Previously, Mr. Chang was a senior interest rates and derivatives trader with the Royal Bank of Scotland in Hong Kong and a global fixed income portfolio manager at Fischer Francis Trees & Watts, Inc. in New York. He has 29 years of investment experience and holds a master's degree in management science from Stanford University and an undergraduate degree in computer science from Cornell University.

Macro Signposts

China’s Growth Engine Faces Fresh Challenges

29/10/2025

Macro Signposts highlights weekly takeaways from the data analysis conducted by our team of economists and other experts.

Tiffany Wilding, Stephen Chang

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Economic and Market Commentary

Q4 2025 Update from the Asia Trade Floor

16/10/2025

Asia portfolio manager Stephen Chang and credit strategist Jingjing Huang discuss macro forces, China’s outlook, and where PIMCO is finding credit value.

Stephen Chang, Jingjing Huang

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Economic and Market Commentary

Q3 2025 Update from the Asia Trade Floor

16/7/2025

Portfolio manager Stephen Chang shares insights on China, emerging markets, and the global outlook for today’s investors.

Stephen Chang, Jingjing Huang

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Economic and Market Commentary

Q2 2025 Update from the Asia Trade Floor

11/4/2025

Understand the impact of U.S. tariffs on China and Emerging Markets with insights from Asia portfolio manager Stephen Chang.

Stephen Chang, Jingjing Huang

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Economic and Market Commentary

Q1 2025 Update from the Asia Trade Floor

14/2/2025

Explore how the renewed U.S.-China trade tensions could impact Asia and global markets with portfolio manager Stephen Chang.

Stephen Chang, Jingjing Huang

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Economic and Market Commentary

APAC Market Outlook 2025: Global Influences, Regional Opportunities

4/2/2025

PIMCO’s Asia investment team analyse how domestic policies and external influences are shaping growth trajectories and investment opportunities across the APAC region.

Stephen Chang, Adam Bowe, Tadashi Kakuchi

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Economic and Market Commentary

Q4 2024 Update from the Asia Trade Floor

29/10/2024

What do China's latest stimulus measures mean for investors? Is India the next big opportunity as capital flows diversify? Gain insights from portfolio manager Stephen Chang.

Stephen Chang

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