The Bloomberg Wealth Asia summit returns to Hong Kong after a three-year break, bringing together the region’s leading investors, economists and money managers.
(Bloomberg) — The Bloomberg Wealth Asia summit returns to Hong Kong after a three-year break, bringing together the region’s leading investors, economists and money managers.
Speakers scheduled for the conference Tuesday include Hong Kong Monetary Authority Chief Executive Eddie Yue, New World Development Company Ltd. CEO Adrian Cheng; and HSBC Global Private Banking and Wealth CEO Annabel Spring.
HSBC Expanding Wealth Presence (10:59 a.m. HK time)
HSBC Holdings Plc is rapidly expanding its wealth business in Hong Kong, mainland China, India and Singapore, said Nuno Matos, chief executive officer for wealth and personal banking at the London-based lender. The bank is also boosting its presence in global wealth hubs including London, Switzerland and the United Arab Emirates, he added.
Matos said the age of low volatility is over and investors can no longer be complacent. With interest rates rising, fixed income is coming back, along with value stocks versus growth equities, he said. He sees investment opportunities in fixed income, particularly durations of around three to seven years.
“Geographically, Asia is the place to be,” Matos said.
HKMA’s Yue on Property Market (9:42 a.m. HK time)
Hong Kong real estate has rebounded quite nicely and the banking system is resilient, Yue said at the conference. There may be room to increase deposit insurance and a group is studying the issue, he said.
Hong Kong is looking at expanding products in the wealth connect with mainland China, including potentially global equity products, Yue said.
The city’s economic growth may be on the high side of government estimates, Yue said.
–With assistance from Jonas Bergman, Russell Ward and Chanyaporn Chanjaroen.
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