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