The recent reprieve in risk assets may be short-lived as it may be premature to expect an early reversal of the U.S. Federal Reserve’s policy tightening. Corporate earnings risks also remain elevated with growth momentum likely to decelerate further.

Hence, we maintain a defensive stance in asset allocation with a focus on diversification and quality to mitigate downside risks.

View the full August 2022 Research Report, please click here.

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