The Global Wealth Manager UBS reportedly sees a shift in investment interests among its prosperous customers in Asia.
The Cailian news agency report That during the Bloomberg New Voices event on Tuesday in Hong Kong, UBS co-head of Wealth Management for Asia Amy Lo says that the High Networks of the Swiss Bank are increasingly running away from American dollar assets and turn to gold, cryptocurrency and Chinese Activa.
In an interview with Bloomberg correspondent Yvonne Man during the event, Lo says that gold is now very popular. Gold is traditionally regarded as an investment in a safe haven and the prices of the yellow metal are rising this year to register highlights in the midst of concern that economic delays will arise after the imposition of higher rates by US President Donald Trump.
Lo says that the trade tension between the US and China also encourages investors to diversify their asset-allocations, which are traditionally “free to” centered “. The conflict between the two countries escalated after the Trump government had imposed a radical rate of 104% on Chinese goods. In response, China imposed a rate of 84% on American input.
Lo says that investors are also focusing more funds towards cryptocurrencies, raw materials and alternative assets. She warns that the volatility will continue.
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