BNP Paribas Wealth Management Shifts to Overweight on Global Equities

The strategy prioritizes specific regional strengths, with a clear focus on South Korea, Taiwan, and Latin America. In Korea, the firm is increasing its exposure to major players like Samsung Electronics, while maintaining significant stakes in Taiwan Semiconductor Manufacturing Company. Shing identifies these markets as essential hubs for the ongoing expansion of artificial intelligence and memory chip demand.

Beyond technology, the portfolio is leaning into industrial commodities and infrastructure to capture growth from the energy transition. Shing remains bullish on metals such as copper, silver, and zinc, which are critical components for renewable energy and advanced tech production. While the firm holds a cautious view on European equities—specifically avoiding French luxury goods—it maintains a positive outlook on the UK market, citing the persistent undervaluation of pharmaceutical leaders like AstraZeneca.

Defence also features prominently in the firm's current allocation, with investments in major contractors including Airbus and BAE Systems. This shift reflects a broader commitment to sectors that provide both security and exposure to long-term industrial shifts. As the firm rebalances its holdings, it is also expanding its active ETF range to better navigate market volatility and capitalize on the intersection of AI, commodities, and clean energy infrastructure.