Middle Eastern funds may flow into Hong Kong, DBS expects private banking to benefit significantly, with 99% of clients having Middle Eastern exposure within 5%

The situation in the Middle East affects global markets. Chen Zhiyong, Managing Director of DBS (Hong Kong), stated that 99% of corporate clients have less than 5% exposure to business in the Middle East. He believes that although there is currently no sign of capital allocation, Hong Kong may attract Middle Eastern funds, especially in the private banking sector. The Hong Kong economy is improving, the real estate market is gradually stabilizing, but the office market still faces pressure, with a vacancy rate of about 13%. DBS's RMB loan business grew by about 50% last year, and the interest margin is expected to continue for 2 to 3 years. Eighty percent of small and medium-sized enterprises plan to increase spending in the coming year, mainly focusing on cities in the Greater Bay Area