High-net-worth clients in Asia are increasingly moving away from US dollar-based investments, seeking alternatives like gold, cryptocurrencies, and Chinese assets. UBS Group's co-head of wealth management for Asia, Amy Lo, highlighted this trend during Bloomberg’s New Voices event, attributing it to rising geopolitical uncertainty and market volatility. Investors are expanding their portfolios to include assets viewed as safe havens and growth opportunities. Notably, interest in Chinese markets is resurging among clients who previously avoided them. With Hong Kong’s stock market performing well, investor optimism has increased, especially following a recent US-China tariff truce that has spurred new themes in investment. Analysts at Galaxy Digital and BlackRock also observed a shift towards Bitcoin as a digital store of value, reflecting a broader move by institutions away from US dollar reserves. The expected portfolio allocation by wealth managers now suggests a balanced approach to various asset classes, indicating a cautious but proactive investment strategy among Asia’s richest individuals.

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