Two opposing trends are emerging: the US dollar faces sustained pressure from a standalone Fed easing cycle, while China's stock market rally is built on a surge in liquidity that may be temporary, reports from Lombard Odier and UBS show.
Asia's wealth managers thrived in Q2 2025, with UBS and HSBC leading growth. Singapore banks held steady as wealth management drove record fees at DBS and UOB.
UBS sees potential in Taiwanese, Indian and Chinese tech stocks, while BNP Paribas maintains a bullish outlook on China's domestically-driven market, particularly in consumer and tech sectors.
As market uncertainties persist, UBS is guiding clients toward FX hedging, global diversification and alternative investments—strategies that could define portfolio resilience in the coming decade.
May 19, 2025
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Asia’s exporters and equity markets face mounting pressure as Donald Trump’s campaign pledge to impose sweeping new tariffs - dubbed "Liberation Day" levies - spark warnings from top private banks.