Trade war averted? Global markets have breathed a major sigh of relief after US President Donald Trump agreed to avert his planned plethora of tariffs on global trading partners for 90 days. Although China was the unlucky exception to that decision, with the president doubling down on sanctions on the world’s second-largest economy, upping tariffs on imports from the country […]

The post Trade war latest: PBs react after Trump’s tariff ‘capitulation’ appeared first on Asian Private Banker.

The Chinese government’s efforts to stimulate its struggling property market have often been dismissed by private banking analysts as not going far enough. However, the latest batch of measures announced last Friday has been met with much more enthusiasm than previous attempts. Last Friday, the Chinese government unveiled a package including a re-lending programme totalling RMB 300 billion to support […]

The post China’s latest property stimulus package is different – it might just work appeared first on Asian Private Banker.

The Bank of Japan’s (BOJ) decision to end its negative interest rate policy is unlikely to stop the strong rally in Japanese equities, Bank of Singapore’s (BOS) chief economist has said. The Bank of Japan lifted its deposit rate from -0.10% and set its key interest rate at a range of 0.00% to 0.10%. Other measures included scrapping its yield […]

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China has announced an ambitious 5% growth target for 2024, leading to some raised eyebrows among the investor community as the world’s second-biggest economy battles a property crisis, deflation and geopolitics. Private banks such UBS Global Wealth Management (GWM) and UBP believe China will fail to hit this growth target. Premier Li Qiang announced the growth target on Tuesday at […]

The post Why UBS GWM and UBP think China will fall short of 5% growth target appeared first on Asian Private Banker.

The global economic landscape is complex with change on the horizon. Bank of Singapore expects a recession in the US and is cautious of high inflation. The bank is positive on Japan, watchful on Europe, but its main concern is still China. In light of these views, the question is, how can wealthy investors create the best investment mix? Speaking […]

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Private banks and asset managers have called for China to unveil new economic support measures after growth again fell short of expectations in 2Q23. China’s GDP growth slowed to just 0.8% quarter-on-quarter in 2Q23, from 2.2% quarter-on-quarter in Q1, data released on Monday showed. A year to forget Bank of Singapore, J.P Morgan Asset Management, and Invesco and have all […]

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This week: China’s stock rout reflects excessive pessimism: Bank of Singapore (BoS); Fed continues its hawkish stance: DWS and BoS  China investors should brace for more volatility: Bank of Singapore While Chinese stocks listed in Hong Kong have risen in the last two days, the Hang Seng Index last week dropped to its lowest level since the Global Financial Crisis (GFC), after the […]

The post CIO Weekly – China stock rout reflects excessive pessimism: Eli Lee of Bank of Singapore appeared first on Asian Private Banker.

The Federal Reserve’s latest move to increase its benchmark rate by 0.75bps in a bid to tamp down a multi-decade high in inflation has sparked a debate among private banks and asset managers on whether the US central bank could soon take a dovish tilt. The Fed’s decision on Wednesday, marking the second time in a row that US rate-setters […]

The post Is the Fed turning dovish? Private banks and asset managers have their say appeared first on Asian Private Banker.

Following weeks of speculation, the Federal Reserve this week unveiled its largest single rate hike in almost three decades. The 75bps rise on Wednesday, the US central bank’s biggest increase since 1994, comes as the Fed attempts to tamp down stubbornly high inflation that has been worsened by a crunch in global energy and food markets. The Federal Funds rate […]

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This week: Outlook for China and RMB about to improve: Deutsche Bank IPB; Fed hawkish cycle has not peaked: Bank of Singapore Outlook for China and RMB about to improve: Deutsche Bank IPB Deutsche Bank International Private Bank (IPB) sees the recent RMB depreciation only as a temporary market reaction to a stronger USD and is betting on a brighter […]

The post CIO Weekly – The worst for China and RMB is behind us: Jason Liu of Deutsche Bank IPB appeared first on Asian Private Banker.

China may have had its share of bad news of late — a most serious COVID-19 outbreak, the lockdown of the country largest centres for economic activity — but the surprising 1Q22 GDP readings have put China in the spotlight again. Here is what global private banks are predicting for the world’s second-largest economy in the coming months: Zero-COVID to […]

The post What’s ahead for China: PBs on China in 2Q22 and beyond appeared first on Asian Private Banker.

Spooked by the current lockdown in Chinese tech hub Shenzhen, Chinese stocks listed in Hong Kong started the week with a crash, entering a new low point since the 2008 Global Financial Crisis. Private banks believe the fifth wave of the COVID-19 pandemic will haunt China’s growth outlook for this year. On Wednesday, the Hang Seng Index staged a record […]

The post Chinese equities pummeled by headwinds: PBs explain the stock market rout appeared first on Asian Private Banker.

Private bank CIOs in the region have warned that escalating geopolitical tensions between Russia and Ukraine could prompt more volatility in assets such as equities and commodities, while alternatives and emerging markets could prove to be a safe haven. Concerns that Russia could invade its neighbour have resulted in recent losses for global equity markets, with Wall Street’s S&P 500 […]

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Private banks are confident that a surge in US inflation will peak in the coming months, even after prices in the world’s largest economy rose 7% YoY in December, the highest monthly increase since June 1982. This fuelled worries by the US Fed about the impact of higher inflation on the economic recovery. During his renomination hearing on Tuesday, Fed […]

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A hawkish tilt by the Federal Reserve is unlikely to take the steam out of a rally in global risk assets, according to private banks and asset managers. In its last monetary policy meeting of the year this week, the US central bank indicated that it could increase interest rates three times over the course of 2022, in view of […]

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The recent sharp acceleration in US inflation is still likely to be considered a “temporary phenomenon”, driven by specific factors such as supply bottlenecks caused by a reopening of the economy, argued Thomas Costerg. The senior US economist at Pictet Wealth Management opined that the US Fed will choose to stay “behind the curve”, and will continue to ignore “high […]

The post Fed to remain dovish on inflation, with QE tapering “months away”: Pictet WM and BoS appeared first on Asian Private Banker.

This week: Deutsche Bank IPB advises to monitor duration risks; Bank of Singapore expects Fed to maintain its dovish monetary stance; Lombard Odier: Increased wages could stoke rising inflation expectations Deutsche Bank IPB advises to monitor duration risks Though central bankers are notorious for making equivocal statements about monetary policy, the messages coming out of the US Federal Reserve have […]

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This week: FOMO more at play than conservatism in equity markets: Indosuez WM; Bank of Singapore: PBoC may keep interest rates unchanged because of slower credit growth; Invesco: More constructive on Chinese onshore, offshore equities and government bonds; BlackRock Investment Institute: Look through near-term volatility and stay invested FOMO more at play than conservatism in equity markets: Indosuez WM In […]

The post CIO Weekly – Featuring Arjan de Boer of Indosuez Wealth Management appeared first on Asian Private Banker.

This week: UBP: Stock picking in China could sidestep regulatory scrutiny of Big Tech; Lombard Odier: Healthy exports from China and its supply-chain related Asian economies; Bank of Singapore: All stars point to China’s growth “accelerating”; BlackRock: Mind the (rate expectation) gap UBP: Stock picking in China could sidestep regulatory scrutiny of Big Tech A Tang-dynasty poem should be the […]

The post CIO Weekly – Featuring Norman Villamin of Union Bancaire Privée appeared first on Asian Private Banker.

This week: HSBC PB sticks to risk-on portfolio strategy, on expectations of a low-for-longer rates environment; Bank of Singapore: Fed to stay “very dovish” through 2021; BlackRock Investment Institute reiterates “pro-risk stance” against backdrop of powerful restart of US economy; Pictet Wealth Management: Earnings “remain impressive” while beating key ratios HSBC PB sticks to risk-on portfolio strategy, on expectations of […]

The post CIO Weekly – Featuring Fan Cheuk Wan of HSBC Private Banking appeared first on Asian Private Banker.

This week: J.P. Morgan AM: Still in that sweet spot for equities to benefit from the recovery; Julius Baer: Style rotation from growth to value “should at least pause”; UBS GMW CIO Office: With inflation defeating interest rates, investors need to put cash to work; Bank of Singapore: Yields on 10-year T-notes only expected at 1.90% in a “year’s time” J.P. […]

The post CIO Weekly – Featuring Tai Hui of J.P. Morgan Asset Management appeared first on Asian Private Banker.

The takeaway from China’s annual political convention last week is that achieving quality, sustainable economic growth — with a clear emphasis on tackling financial risks— is the top of the agenda for the People’s Bank of China, economists contend. The week-long gathering of Chinese policymakers signalled a slow pull back fiscal and monetary stimulus throughout the year while maintaining positive […]

The post Banks weigh in on China’s “two sessions” as authorities set moderate growth targets appeared first on Asian Private Banker.

In a move that may assuage money managers’ nerves on investment options for digital assets, the European Central Bank has said that it will decide “towards the middle of 2021” whether or not to launch a digital euro project so as to “be prepared for the possible issuance of a digital euro at some point in the future”. A digital […]

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This week: Standard Chartered: Slight preference for value stocks even if growth stocks will continue to do well; Julius Baer: US corporate earnings supportive of equity markets; Bank of Singapore: Beijing will reduce its fiscal support as the economy recovers; VP Group: China will be the global economic powerhouse of 2021; Federated Hermes: Pace of companies downgraded from investment grade […]

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This week: DBS: Hopeful of a sustainable economic rebound; Credit Suisse: 2021 perhaps more volatile than the optimists have it; UBP: Stimulus measures not a positive factor for USD; Goldman Sachs: Still constructive on macro and earnings recovery in the medium term; Bank of Singapore: Gold will touch highs of US$2,100 DBS: Hopeful of a sustainable economic rebound Despite supply […]

The post CIO Weekly – Featuring Hou Wey Fook of DBS appeared first on Asian Private Banker.

This week: HSBC Private Banking: Singapore REITs can be an income-building block for portfolios; J.P. Morgan Private Bank: strong export performance points to further RMB upside; UBP: Diversifying equity exposure into Asia; Bank of Singapore: Fed’s dovish approach weakens USD and supports risk assets; Lombard Odier: Presidential election should not change US economic outlook HSBC Private Banking: Singapore REITs can […]

The post CIO Weekly – Featuring HSBC Private Banking’s James Cheo appeared first on Asian Private Banker.

Japanese prime minister Shinzo Abe’s decision to step down may inject short-term uncertainties into the country’s economy and financial markets, but his economic policies are expected to be continued under his successor. Last Friday, Abe announced his resignation, citing ill health. He will remain in office until a successor is picked within his party. Economists from across the board largely […]

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