CONTRARIAN INVESTOR
Multi-asset managers have been hiking their cash weightings after a rocky start to the year for global equity markets.
Impending US employment data expected to show a further improvement in the country's economy sparked gains for equity indices around the globe overnight.
The S&P 500 saw its biggest gain in more than a month on Thursday, supported by technology stocks and strong GDP data.
Wealth managers are positioning clients' portfolios cautiously this quarter amid expectations of a setback for equity markets, despite growing appetite for risk among investors.
Japan's Nikkei index slid for the second day in a row on Tuesday, after weak economic data in the US made investors wary of taking on risk.