By Summer Zhen HONG KONG (Reuters) – Global hedge funds that use an equities long-short strategy are growing increasingly bullish on China, evidenced by the heavy pick-up in their purchases of Hong Kong-listed shares, UBS Group said in a note. Hong Kong’s stock markets, which closely mirror China’s struggling performance, have recovered since March as
UBS Group (VTX:UBSG) Full Year 2023 Results Key Financial Results Revenue: US$39.6b (up 16% from FY 2022). Net income: US$27.8b (up 265% from FY 2022). Profit margin: 70% (up from 22% in FY 2022). EPS: US$8.83 (up from US$2.34 in FY 2022). earnings-and-revenue-growth All figures shown in the chart above are for the trailing 12
UBS Group AG is planning to cut about 90 jobs in Asia private wealth and investment banking in March as China’s stock market rout and a slump in dealmaking have eroded revenue, people familiar with the matter said as quoted by Bloomberg. The Zurich-based lender is weighing a plan to cut about 70 jobs at
When ChatGPT burst into the public consciousness in early 2023, financial services firms initially reacted by banning their employees from using it. A year later, many executives are heralding generative AI as transformative for their business. AI as a key theme for 2024 may seem obvious. But what are the other trends that will affect