Core Insights - Asian ultra-high-net-worth investors possess substantial financial strength, with investment thresholds ranging from $20 million to $1 billion, and they prefer global asset allocation and long-term certainty in investments [2] Investment Philosophy - Ultra-high-net-worth investors focus on long-term asset appreciation over 20 to 30 years, rather than short-term market fluctuations [4][5] - The investment strategy emphasizes long-term certainty opportunities, such as gold and AI, rather than short-term market volatility [6] Asset Allocation - Investors diversify to mitigate risks, balancing traditional assets like gold and hedge funds with geographical diversification across regions like Japan, Singapore, Australia, and Europe [6] - Preferred alternative investments include hedge funds, private equity, real estate funds, and infrastructure funds [2] Hedge Fund Preferences - Investors favor hedge funds with strong management capabilities and risk control, such as the "Millennium" hedge fund, which employs a multi-strategy approach [7][8] - The appeal of these funds lies in their professional management and relatively low correlation with market fluctuations, offering expected annual returns of 10% to 15% [8] Stock Investment Recommendations - Investment recommendations focus on AI-related sectors, particularly companies in the supply chain like Nvidia, TSMC, ASML, and Samsung, which are seen as having strong growth potential [10] - Despite concerns about high valuations, companies like Nvidia are viewed as fundamentally sound due to their strong earnings growth and demand for their products [11] Real Estate Investment Trusts (REITs) - Ultra-high-net-worth investors show a preference for Singapore REITs, which are well-established and cover various sectors, offering annual yields of 4% to 8% [14] Gold as a Safe-Haven Asset - Gold is recommended as a strong investment due to central banks increasing their holdings, its role in inflation hedging, and its appeal during geopolitical uncertainties [15] Currency Outlook - The outlook for the US dollar is negative, with expectations of further declines due to a potential interest rate cut cycle, while other currencies like the euro, yen, and Swiss franc are monitored for investment leverage considerations [16]

Market Overview - On May 7, the Hang Seng Index opened significantly higher due to policy support from the "One Bank, One Commission, One Bureau" press conference, reaching a peak of 23,197 points before closing at 22,691 points, a slight increase of 30 points or 0.1%[1] - The Hang Seng Tech Index fell by 0.8%, closing at 5,200 points, with total market turnover exceeding HKD 240.1 billion and a net outflow of HKD 7.87 billion from the Stock Connect[1] Sector Performance - Major state-owned enterprises in banking, insurance, and telecommunications supported the market, with four major banks rising between 0.4% and 2.0%[1] - AIA (1299 HK) saw its stock price increase by 2.9% over four consecutive trading days following the release of Q1 operational data[1] - REITs like Link REIT (823 HK) and Prosperity REIT (778 HK) rose by 6.7% and 2.7%, respectively, after the announcement of including REITs in the Shanghai-Hong Kong Stock Connect[1] Policy Impacts - The People's Bank of China announced a 0.25 percentage point reduction in the personal housing provident fund loan rate, lowering the five-year first home loan rate from 2.85% to 2.6%[3] - The China Securities Regulatory Commission emphasized enhancing the role of the National Social Security Fund to stabilize the market, indicating a proactive approach to financial regulation[2] Real Estate Market Dynamics - New home transaction volume in 30 major cities reached 149 million square meters, a year-on-year increase of 42.2%, indicating a rebound in the real estate market[9] - The inventory-to-sales ratio for major cities was 98.4, higher than last year but lower than the previous week, suggesting a tightening market[11] Automotive Sector Insights - Li Auto (2015 HK) reported sales of 11,400 vehicles for the week ending May 4, up from 8,600 the previous week, indicating strong demand ahead of the launch of new models[4] - Geely Auto (175 HK) proposed a privatization offer for Zeekr (ZK US) at a 20% premium to its 30-day average price, which is expected to positively impact Geely's stock price[4]