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HSBC Reduces US Equity Overweight, Rotating into Emerging Mkts/ Europe
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HSBC significantly reduced its US equity overweight, rotating into emerging markets and Europe, according to Bloomberg. The team led by HSBC's Chief Multi-Asset Strategist, Max Kettner, believed that the cyclical momentum of economies outside the US is stronger, and it is currently difficult to reverse the bearish market narrative on AI. In Europe, HSBC favored industrials due to higher defense spending and strong metal demand, and was also optimistic about banks. AASTOCKS Financial News Website: www.aastocks.com |
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