Asia Economy

HSBC Global AM's CEO upbeat on Asia equities as middle class grows

Asian consumer strength remains: HSBC AM

The uncertain geopolitical environment is the talk of the day, but HSBC Global Asset Management's CEO is positive on Asian equities thanks to a rising middle class.

"If we step away from policy uncertainties, the strength of the Asian consumer still remains," Sridhar Chandrasekharan told CNBC's "Squawk Box" at the Morgan Stanley Asia Pacific Summit on Thursday.

By 2030, two-thirds of the world's middle class will be in Asia, up from less than one-third today, he added.

Customers look at mobile handsets as an advertisement featuring a photo of Wal-Mart Stores Inc.. founder Sam Walton hangs on a wall in a Wal-Mart Stores Inc. owned and operated Sam's Club store during its opening day in Tianjin, China, on Wednesday, Sept. 28, 2016.
Qilai Shen | Bloomberg | Getty Images

"These sorts of factors are much longer-term and playing out in a much more secular way," Chandrasekharan said.

His comments come on the back of a sell-off in emerging market bonds and currencies since businessman Donald Trump's U.S. election win.

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