· UBS, the world’s largest wealth manager, said investors should keep their money in the stock market this year regardless of their risk appetite.
Markets have been volatile in recent months as investors re-position for slower global growth and heightened uncertainties. That’s set to continue, leading some investors to consider whether it’s time to get out of equities and hold cash before a recession hits — but UBS said there’s still money to be made in the stock market.
“You have to stay invested, whatever your risk tolerance can bear,” Mark Haefele, global chief investment officer at UBS Global Wealth Management, said on Monday.
“The period of 18 months to 6 months before a recession is often when you get most of your returns because that’s when economies do strongly,” he told clients at the UBS Wealth Insights forum in Singapore.
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· European stocks open higher Tuesday morning, with market participants braced for a showdown in Westminster over the U.K. government’s Brexit plan.
The pan-European Stoxx 600 was up by 0.8 percent with almost every sector in positive territory.
Market focus is largely attuned to an all-important vote on Prime Minister Theresa May’s much-maligned Brexit deal on Tuesday.
· Asian stocks rose on Tuesday, supported by a bounce in Chinese shares amid hopes for government stimulus, while sterling braced for the vote in parliament over the British government’s plan to exit the European Union.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS recovered from early losses and advanced 1.3 percent. South Korea's Kospi .KS11 hit a one-month high and Japan's Nikkei .N225 added 1 percent.
· China stocks were higher after the close on Tuesday, as gains in the Life Insurance, Technology Hardware & Equipment and Technology sectors led shares higher.
At the close in Shanghai, the Shanghai Composite added 1.36%, while the SZSE Component index gained 1.86%.
· The Hang Seng Index surged 1.6
Reference: Reuters, CNBC
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