DBS optimistic about long-term AI development, urges barbell strategy

DBS Hong Kong Chief Investment Office (North Asia) investment strategist Lam Tsz-huen maintains a broadly neutral view on equities and bonds, preferring to maintain a balanced risk allocation, continue to overweight alternative investments and keep cash underweight. He noted that corporate earnings have shown resilience and the market rally has broadened, while equity fund flows remain strong; bond yields remain attractive, but duration should not be pursued aggressively.