valid from 14.10.2025
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Model portfolios – Swiss focus
Profit-taking on the Chinese stock market
Overall, market sentiment remained optimistic last month, although there was noticeable unrest when Donald Trump recently announced that he would impose additional tariffs of up to 100 per cent on Chinese imports. The trade policy power struggle is thus continuing to escalate. At the same time, a recovery in the Chinese economy is still a long time coming. In this environment, we are realising the strong gains in the Chinese stock market in favour of liquidity. At the same time, we are sticking to our slightly defensive stance. We remain overweight in gold and US government bonds, continue to favour Swiss real estate funds and remain underweight in the US stock market.
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