Pictet on second-half outlook: Asia not a growth driver

Singapore

INVESTORS should stay long on equities in the developed world and be opportunistic in other areas as emerging markets may not be favoured by the risk equation, according to Pictet Wealth Management.

Growth in Asia is flat-lining, said Bhaskar Laxminarayan, Asia chief investment officer for Pictet Wealth Management, on Thursday at an outlook briefing for the second half of 2015. He added that Asia has "higher growth than the rest of the world but is not a growth driver, as economies are not growing incrementally faster than they were before to add to global growth".