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UBS Fund Managers Say Clients Seeking USD Hedge w/ More Confidence in CN Tech Sector
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UBS fund managers said at a forum in Davos that lower valuations, government support and loose fiscal policy, along with the cyclical backdrop of the Chinese economy, are encouraging investors to shift towards Chinese techs and diversify away from US investments, according to Reuters. Mark Haefele, chief investment officer of UBS Global Wealth Management, mentioned that Chinese techs have achieved some success in their field and appear to have government support. Clients from the US, Europe and Asia are seeking ways to hedge against the USD, and their growing confidence in China's technology sector is prompting them to increase investments. AASTOCKS Financial News Website: www.aastocks.com |
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