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UBS GWM revises Asia TAA, says to “stay long” on Chinese stocks ahead of NPC

Seeing signs of a late cycle in Asia, and with the risk-return outlook having become “less favourable” for a number of its relative trades in the region, UBS Global Wealth Management has revised its tactical asset allocation. “Within equities we neutralise our Korea overweight versus Taiwan underweight after the former’s 5% outperformance this year,” said Mark Haefele, CIO at UBS…

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