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Dave Zhong / Getty Images for CNBC International
Catherine Cai, Executive Vice President and President of UBS for Greater China, speaks at the fireside chat organized on the second day of CNBC East Tech West at LN Garden Hotel Nansha Guangzhou November 28, 2018 in Nansha , Guangzhou, China
Cai was asked his opinion about the impact this has on the markets in China. She said: "I think every article, people read different points of view about what will happen in three days … I think everyone hopes that the two leaders will reach an agreement, which will beneficial for the global economy, especially very positive for China and the United States, "she said.
"The market is very fragile and in the last two weeks the US market and China have weakened further, so the market is expecting good news and no one wants to hear bad news from the meeting of these two leaders," he said. -she adds. But the market wants to see something specific and not just handshakes between the two leaders.
In terms of Chinese assets, Cai added that global equity investors may need to look to more stable sectors of the economy during this turmoil, suggesting that growth stocks and technology could to be more volatile.
"Many people say that the trade war will cause more damage to the Chinese market but not necessarily, and any war will damage both sides," she added.
"In the last two weeks, the US market has become very fragile, many big names in technology have lost their market value very significantly, let's take the example of Apple, which lost $ 200 billion in Many US economic indicators have demonstrated the potential for slowing down in the coming years … So I hope the US government will also realize that the trade war is going to have more or less an impact on the US economy and not just on China's, "she added.
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