Asia money managers buy gold, China stocks to hedge US election

Bloomberg
Bloomberg10/19/2020 08:54 AM GMT+08  • 5 min read
Asia money managers buy gold, China stocks to hedge US election
Global fund managers are ready for extreme market volatility as they expect the outcome of the elections to be contested.
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Money managers in Asia are deploying a range of traditional and unconventional strategies to cushion any losses as they brace for turbulence in the lead-up and aftermath of the US presidential election.

Chinese equities feature high in some recommendations on expectations the vote will have a limited impact on Asian assets, while derivatives that protect against a market slide are also listed among the strategies. Several investors suggest more conventional hedges such as the yen and gold as well as just holding cash to avoid risk exposure.

And even as election fears ebb with polls showing a widening lead for Democratic candidate Joe Biden, a Bank of America Corp. survey showed global fund managers are ready for extreme market volatility as they expect the outcome to be contested.

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