Money managers for Asia's wealthy see end to US$ rally
Singapore
MONEY managers for Asia's wealthiest families say they'll be looking elsewhere for returns after chasing the US dollar's gains in the past three years.
UBS Group AG, the world's largest private bank, is telling clients there's "little room for further dollar appreciation", said James Purcell, cross-asset strategist at its wealth management business in Hong Kong. Stephen Diggle, who runs a family office in Singapore called Vulpes Investment Management, said that US rate increases aren't enough "to chase a strong dollar".
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Google to pay up to US$6 million to News Corp for new AI content, The Information reports
Restaurant Brands tops estimates as Burger King overhaul pays off
Yen falls after suspected intervention on Monday; eyes on Fed
US: Wall St opens lower on labour costs data
TikTok shop tops 500,000 US sellers after 2023 e-commerce launch
Parkway Life Reit Q1 DPU up 4% to S$0.0379