HSBC cuts global equities to neutral on AI and risks
HSBC lowered its global equities stance to neutral from overweight due to Middle East tensions and AI regulatory concerns. The bank also upgraded developed-market sovereign bonds and adjusted its holdings in gold and oil.
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HSBC HOLDINGS PLC-SPONS ADR cut its stance on global equities to neutral from max overweight on Monday morning, citing Middle East tensions and AI regulation risks ahead of the United States midterm elections. The brokerage held max overweight stocks and max underweight sovereign bonds since mid-March. The shift reflects falling conviction amid constant narrative changes in global markets.
