‘The time to buy is when everyone hates the market and it’s cheap, which is now the case in Chinese equities,’ especially as there are signs that the country’s economic leaders are preparing stimulus measures, the hedge fund billionaire said in his LinkedIn blog.
HSBC Gold Token, which will be available on the lender’s online banking and mobile app, is the first such retail product to be issued by a bank, according to HSBC, as the government pushes for more digital assets to be rolled out for public use.
The New York-based bank will continue to invest in Hong Kong, betting that the city where it has been doing business for a century can recover when the economic cycle turns, and live up to its potential as the financial centre of the world’s second largest economy.