UBS's Khan Sees Rich Customer Demand for Alternative Assets
Wealthy customers of UBS Group AG are looking to buy more alternative assets as they seek to diversify investments during a volatile period for markets and global trade, according to the firm's Asia Pacific chief.
'We see continued demand' for alternatives, Iqbal Khan, the bank's regional president, said in an interview with Bloomberg TV in Hong Kong at the UBS Asian Investment Conference on Wednesday.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
US calls for Asia allies to boost defenses in face of China's ‘imminent' threat, Hegseth tells top defense forum
US Defense Secretary Pete Hegseth on Saturday delivered a dire warning to the Asia-Pacific region and the world: China's designs on Taiwan pose a threat to global peace and stability that requires 'our allies and partners do their part on defense.' 'There is no reason to sugarcoat it. The threat China poses is real. And it could be imminent,' Hegseth said in a speech to the Shangri-La Dialogue, Asia's premier defense forum, in Singapore. 'Beijing is credibly preparing potentially to use military force to alter the balance of power in the Indo-Pacific,' with People's Liberation Army (PLA) forces training daily to take military action against Taiwan, Hegseth said. He noted that Chinese leader Xi Jinping has ordered his military to be prepared by 2027 to invade Taiwan, the democratic island of 23 million people that the Chinese Communist Party claims as its sovereign territory despite having never ruled it. 'The PLA is building the military needed to do it, training for it every day and rehearsing for the real deal,' Hegseth said, delivering some of his strongest comments against China since he took office in January. He said US President Donald Trump has pledged not to let Taiwan fall to China on his watch, and he called on US allies and partners in the region to band together to stand up to Beijing, both on the Taiwan issue and other regional disputes where China aggressively pursues its agenda, such as in the South China Sea. 'China's behavior towards its neighbors and the world is a wake-up call. And an urgent one,' the US defense chief said. But he said the US cannot deter the Chinese threat alone, calling on other nations to be 'force multipliers' against Beijing. 'We ask – and indeed, we insist – that our allies and partners do their part on defense,' he said. Hegseth urged Asian countries to increase their defense spending, pointing to NATO allies who have boosted it to 5% of gross domestic product. 'So it doesn't make sense for countries in Europe to do that while key allies in Asia spend less on defense in the face of an even more formidable threat, not to mention North Korea,' he said. While Hegseth made clear that Washington does not seek conflict with China, he stressed the Trump administration would not let aggression from Beijing stand. 'We will not be pushed out of this critical region, and we will not let our allies be subordinated and intimidated,' he said. Hegseth's speech adds to heated tensions between Washington and Beijing. China has railed against America's efforts in recent years to tighten its alliances and stiffen its defense posture in Asia, while economic frictions rose to historic levels earlier this year after Trump imposed tariffs on China, sparking a tit-for-tat between the two countries that saw duties rise to more than 100% on each other's goods. The annual Shangri-La Dialogue in Singapore has in the past been a place where defense leaders from the US and China can meet on the sidelines and foster at least a minimal dialogue between the two foes. No such meeting is expected to take place this year. China announced on Thursday that it would send only a low-level delegation from its National Defense University to Shangri-La, rather than its defense minister, who has spoken at the past five forums. When the International Institute for Strategic Studies, which sponsors the event, belatedly released a speakers list for the forum on Friday afternoon, the usual 8:30 a.m. time slot for a Chinese representative to speak was scrubbed from the agenda. At a Chinese Defense Ministry press conference on Thursday, a spokesperson ducked a question on why Beijing was not sending its defense minister to the forum. China was 'open to communication at all levels between the two sides,' a ministry spokesperson said, when asked about a potential sidelines meeting with the US delegation. Hegseth's call for allied cooperation in deterring China is a carryover from the Biden administration, but the Trump administration seems more strident than its predecessor. Ahead of the Singapore conference, there was broad consensus among analysts that unlike the turmoil Trump has caused in Europe – with threats to pull back from NATO and abandon Ukraine in its fight against Russia's invasion – the US role in Asia has largely been consistent, centered on a policy to counter Chinese influence and back Taiwan. Analysts noted that US-led military exercises, especially those involving key allies Japan, Australia, the Philippines and South Korea, have continued or even been bolstered in 2025.
CNN
2 hours ago
- CNN
US calls for Asia allies to boost defenses in face of China's ‘imminent' threat, Hegseth tells top defense forum
US Defense Secretary Pete Hegseth on Saturday delivered a dire warning to the Asia-Pacific region and the world: China's designs on Taiwan pose a threat to global peace and stability that requires 'our allies and partners do their part on defense.' 'There is no reason to sugarcoat it. The threat China poses is real. And it could be imminent,' Hegseth said in a speech to the Shangri-La Dialogue, Asia's premier defense forum, in Singapore. 'Beijing is credibly preparing potentially to use military force to alter the balance of power in the Indo-Pacific,' with People's Liberation Army (PLA) forces training daily to take military action against Taiwan, Hegseth said. He noted that Chinese leader Xi Jinping has ordered his military to be prepared by 2027 to invade Taiwan, the democratic island of 23 million people that the Chinese Communist Party claims as its sovereign territory despite having never ruled it. 'The PLA is building the military needed to do it, training for it every day and rehearsing for the real deal,' Hegseth said, delivering some of his strongest comments against China since he took office in January. He said US President Donald Trump has pledged not to let Taiwan fall to China on his watch, and he called on US allies and partners in the region to band together to stand up to Beijing, both on the Taiwan issue and other regional disputes where China aggressively pursues its agenda, such as in the South China Sea. 'China's behavior towards its neighbors and the world is a wake-up call. And an urgent one,' the US defense chief said. But he said the US cannot deter the Chinese threat alone, calling on other nations to be 'force multipliers' against Beijing. 'We ask – and indeed, we insist – that our allies and partners do their part on defense,' he said. Hegseth urged Asian countries to increase their defense spending, pointing to NATO allies who have boosted it to 5% of gross domestic product. 'So it doesn't make sense for countries in Europe to do that while key allies in Asia spend less on defense in the face of an even more formidable threat, not to mention North Korea,' he said. While Hegseth made clear that Washington does not seek conflict with China, he stressed the Trump administration would not let aggression from Beijing stand. 'We will not be pushed out of this critical region, and we will not let our allies be subordinated and intimidated,' he said. Hegseth's speech adds to heated tensions between Washington and Beijing. China has railed against America's efforts in recent years to tighten its alliances and stiffen its defense posture in Asia, while economic frictions rose to historic levels earlier this year after Trump imposed tariffs on China, sparking a tit-for-tat between the two countries that saw duties rise to more than 100% on each other's goods. The annual Shangri-La Dialogue in Singapore has in the past been a place where defense leaders from the US and China can meet on the sidelines and foster at least a minimal dialogue between the two foes. No such meeting is expected to take place this year. China announced on Thursday that it would send only a low-level delegation from its National Defense University to Shangri-La, rather than its defense minister, who has spoken at the past five forums. When the International Institute for Strategic Studies, which sponsors the event, belatedly released a speakers list for the forum on Friday afternoon, the usual 8:30 a.m. time slot for a Chinese representative to speak was scrubbed from the agenda. At a Chinese Defense Ministry press conference on Thursday, a spokesperson ducked a question on why Beijing was not sending its defense minister to the forum. China was 'open to communication at all levels between the two sides,' a ministry spokesperson said, when asked about a potential sidelines meeting with the US delegation. Hegseth's call for allied cooperation in deterring China is a carryover from the Biden administration, but the Trump administration seems more strident than its predecessor. Ahead of the Singapore conference, there was broad consensus among analysts that unlike the turmoil Trump has caused in Europe – with threats to pull back from NATO and abandon Ukraine in its fight against Russia's invasion – the US role in Asia has largely been consistent, centered on a policy to counter Chinese influence and back Taiwan. Analysts noted that US-led military exercises, especially those involving key allies Japan, Australia, the Philippines and South Korea, have continued or even been bolstered in 2025.
Yahoo
3 hours ago
- Yahoo
These toys are so hot that Chinese customs agents have seized hundreds of them in recent weeks
Unveiling their latest seizure in front of news cameras last month, two Chinese customs agents revealed not drugs or weapons – but suitcases full of plush toys. The stash on display included dozens of Pop Mart Labubus - the toothy, fluffy figurines that have sparked buying frenzies around the world, and in some cases, brawls among fans outside shops selling them. Even in China, where Pop Mart is based and most of its toys are made, people are struggling to get their hands on Labubus. When CNN recently visited a Pop Mart store at a bustling shopping mall in downtown Beijing, Labubu dolls were nowhere to be found on shelves, with only display samples remaining in glass cabinets. Labubus are typically 'sold out in seconds' when released, longtime Pop Mart fan Evelyn Lin told CNN. 'It's almost impossible to get a Labubu via the official channels,' she said. Fans are instead turning to unusual sources - including buying from smugglers. A total of 462 Pop Mart toys have been confiscated by customs authorities across China since April, according to a CNN compilation of multiple official posts. Details and footage of one seizure were posted by China's Customs Administration on social media, which stated that that the toys were intended 'for profit by resale' and seized in accordance with law. The post did not say whether any of the Labubu smugglers faced other legal consequences. Labubu is the brainchild of Hong Kong-born illustrator Kasing Lung, and it has quietly built a loyal following since its 2015 debut. But in recent months, the bunny-bodied, elf-faced creature — equal parts grotesque and adorable — has soared in popularity. Stars including Rihanna, Dua Lipa, and Lisa from K-pop group Blackpink have worn Labubus like lucky charms, and the toys were even spotted at Paris Fashion Week this year. According to Chinese state-owned media outlet Cover News, a blind box from the latest Labubu 3.0 series, originally priced at 584 yuan ($81), has been selling for between 1,000 ($139) and 2,000 yuan ($278) on the second-hand market. Pop Mart's annual results show that the company's global gross profit surged by over 125% last year, while its revenue in mainland China reached more than $1.09 billion, 34% higher than 2023. But buying from resellers carries risks. Kate Yang, a Beijing resident and Labubu enthusiast, told CNN that her two last purchases from resellers both turned out to be fakes. 'Because they are not available on official platforms, if you're in a rush to get a gift for a friend, you just can't manage to get the popular ones in time,' said Yang. 'You can only pay extra to buy from resale platforms.' CNN's Marc Stewart and Martha Zhou contributed reporting
