UBS warns of increased market volatility in 2026 due to various risks, but remains optimistic about Chinese tech shares and gold. They identified economic weakness, inflation, government debts, US-China conflicts, and AI returns as major concerns. UBS believes the AI boom is different from the dot-com era, with Chinese tech companies leading in AI applications. They project significant growth for Chinese tech stocks and the broader market. Fidelity International expects more investment in Asia next year, citing a weakening US dollar and ongoing AI investment trends. The adoption of AI is expected to benefit the broader economy.

Read more at Yahoo Finance: UBS remains bullish on Chinese tech shares and gold but warns of big market swings in 2026