HSBC Holdings Plc ’s Swiss private bank said new money from Asia offset first-half client outflows from Europe as tax authorities in France and Italy scrutinize account details stolen by a former employee.
Germany’s government bonds fell, underperforming all their euro-region peers, after a survey showing investor confidence in the nation increased this month reduced demand for the region’s safest assets.
The worst plunge in China’s stocks in more than a year is a buying opportunity for investors as the country’s benchmark index may advance as much as 15 percent by June, according to HSBC Private Bank’s Arjuna Mahendran .
German government bonds dropped for a second day after a euro-area report showed services output expanded in August for the first time in 19 months, adding to evidence the region is pulling out of its economic slump.
The longest losing streak for developing-market equities in more than a decade is turning investors who shunned the stocks a year ago into buyers after valuations fell to the lowest levels since March 2009.