News

HSBC China launches AI-based equity index

Digital ageThe Chinese arm of HSBC has unveiled an artificial intelligence (AI)-powered equity index investment product. The US Equity 5 Index applies a rules-based engine to publicly traded companies in order to assess stocks and identify investments, according to HSBC and the bank claims it is the first in China to offer such a tool to retail investors. The tool also rebalances the portfolio on a monthly basis and reallocates between the equity portfolio and cash component on a daily basis. “Adoption of digital wealth and investment tools in China is accelerating at a faster pace than other markets globally,” said Richard Li, executive vice president and head of Wealth and Personal Banking at HSBC China. “AI combined with big data equips investors with an innovative and more precise tool to navigate through increasingly volatile international markets and the up-take of these new solutions is increasing among retail investors, especially millennials, seeking portfolio diversification,” he added. © 2020 funds global asia

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