PANews reported on May 14 that according to Cailian News, Amy Lo, Co-Head of Wealth Management for Asia at UBS Group, stated that UBS's high-net-worth clients are increasingly withdrawing from US dollar assets and turning to gold, cryptocurrencies, and Chinese assets. "Gold is very popular right now," Lo said in an interview with Yvonne Man at the Bloomberg New Voices event in Hong Kong on Tuesday. She pointed out that tensions in trade relations between China and the US have prompted investors to begin diversifying their previously "quite US-centric" asset allocation; in addition to seeking other monetary assets, investors are also directing more funds towards cryptocurrencies, commodities, and alternative assets. "Volatility will definitely continue," Lo added.
