HSBC's Liao: Customers in Risk‑Off Mode as Tensions Rise

HSBC’s Asia and Middle East Co-CEO David Liao reported that clients have adopted a "risk-off" stance due to escalating geopolitical tensions linked to the Iran conflict. The shift reflects broader market caution, with investors prioritizing safer assets amid uncertainty, though no specific asset classes were detailed. Despite the risk aversion, Liao emphasized that HSBC’s balance sheets remain stable across both wholesale and retail banking divisions. His remarks were made during the HSBC Global Investment Summit in Hong Kong, underscoring regional financial resilience amid global instability. The comments highlight how geopolitical conflicts directly influence banking sector behavior and client investment strategies.