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HSBC HOLDINGS CEO: 'Asia Buys Asia' to Contribute 1.8% Growth to Regional GDP Over Next 5 Yrs; Bank To Expand Gold Reserves
2026-11-04 09:33:41 HSBC HOLDINGS (00005.HK) CEO Georges Elhedery said at the Global Financial Leaders' Investment Summit that intra-Asian trade and investment are accelerating, and that ASEAN has exceled Europe and the US to become China's largest trading partner. In his opinion, the "Asia buys Asia" trend will contribute 1.8% growth to Asia's GDP over the next five years. He added that Asia and the Middle East have accumulated substantial private wealth, which previously mainly flowed into European and US markets, but is now increasingly seeking investment opportunities locally and within Asia. He hoped ASEAN and the Gulf Cooperation Council (GCC) can reach a free trade agreement as soon as possible to promote growth in trade flows. He was optimistic that the "Asia buys Asia" trend and the "Asia-Middle East corridor" will become the next frontier for investment and trade flows. Elhedery also mentioned that HSBC is expanding its gold reserves, viewing gold is a safe-haven asset and an effective inflation hedge with unique value that other assets do not possess. The tokenized gold launched by HSBC HOLDINGS has become one of the world's top three tokenized gold products and is expanding into international markets beyond Hong Kong. Meanwhile, the first gold ETF launched by Hang Seng Bank exceeded HKD1 billion in assets within just one week, and the bank will continue expanding its gold reserves in the future. ~ AASTOCKS Financial News Website: www.aastocks.com | |