UBS Group AG has reported a notable shift in asset preferences among its high-net-worth clients in Asia. According to Amy Lo, Co-Head of Wealth Management for Asia at UBS, these wealthy clients are increasingly moving away from U.S. dollar-denominated assets. Instead, they are favoring gold, cryptocurrencies such as Bitcoin, and investments in Chinese assets. This trend was highlighted during an interview at a Bloomberg New Voices event in Hong Kong, reflecting growing concerns over the stability of the U.S. dollar and a broader pivot toward alternative stores of value.
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