HSBC unveils investment platform for young clients

Taipei Times
Date: Sep 03, 2020
By: Kao Shih-ching / Staff reporter

HSBC Bank (Taiwan) Ltd retail banking and wealth management head Linda Yip, back row third left, and other bank personnel hold promotional material at a news conference in Taipei yesterday to introduce a new investment platform targeting young clients.
Photo: Lee Ching-hui, Taipei Times

HSBC Bank (Taiwan) Ltd (匯豐台灣商銀) yesterday launched a new wealth management platform targeting people aged 25 to 40, as more young people prefer investing over saving amid a low-interest environment, the bank said.

The online “Refreshed HSBC Advance” platform allows clients to directly buy stocks listed in the US and Hong Kong, purchase funds and exchange their New Taiwan dollars into nine foreign currencies, the bank said.

The strategy of focusing on foreign shares instead of local shares is based on HSBC’s leverage in its global network and intense competition from local stocks brokerages, HSBC Taiwan retail banking and wealth management vice president Christine Lee (李瑜芬) told a news conference in Taipei.

“We noticed that young investors generally prefer US shares to domestic shares, as they want to pursue higher returns even at the cost of higher risks. Compared with local stocks with stable dividends, some US stocks are more attractive, despite greater volatility,” Lee said.

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