Banking giant UBS says its high-net-worth clients in Asia are pivoting from US dollar assets toward gold, crypto and Chinese markets.
High-net-worth clients across Asia are gradually pivoting away from US dollar-based investments, favoring gold, cryptocurrencies and Chinese assets instead, according to financial services giant UBS Group.
“Gold is getting very popular,” Amy Lo, the Swiss bank’s co-head of wealth management for Asia, said during Bloomberg’s New Voices event held in Hong Kong on May 13.
She cited rising geopolitical uncertainty and persistent market volatility as primary factors behind the shift. Investors, traditionally concentrated in US-centric assets, are now seeking broader exposure across alternative asset classes, including crypto, commodities and other currencies.
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