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<Research>M Stanley: Asia's 2Q Cross-border Wealth Mgmt Remains Strong w/ Continued Net Inflows into HK Banks
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Asian wealth management is one of the fastest-growing financial businesses globally, with quarterly asset management scale growth ranging from 1-8%, Morgan Stanley released a research report saying. Hong Kong banks exhibited the fastest growth, driven by strong net new money (NNM) and customer additions. In Singapore, OCBC's trend improved over the past 2 quarters. Wealth management income in 2Q25 exceeded the broker's estimation by 5-18%. YoY growth rates were robust, while the 3Q25 performance is expected to remain strong. HSBC continued to demonstrate strong momentum in its wealth business, reporting a NNM of US$22 billion this quarter, with US$11 billion coming from Asia. HSBC added 300,000 new clients in Hong Kong this quarter, Morgan Stanley added. Wealth income grew by 22% YoY across all product lines, benefiting from increased activity levels among Asian clients. AASTOCKS Financial News Website: www.aastocks.com |
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