Swiss Stocks Extend Gains on Improved Investor Sentiment
Swiss shares extended gains for a second straight day, with the Swiss Market Index up 0.75% on Wednesday, underpinned by a rebound in investor confidence and a global boom in technology stocks.The UBS and Swiss CFA Society sentiment index improved to -11.1 in May from -30.3 in April, with 75% of analysts surveyed now expecting economic conditions in Switzerland to remain unchanged over the next six months.On the corporate front, Switzerland-traded stocks of US-based memory and storage systems company Micron Technology (MU.SW) surged 23.09%. The company crossed $1 trillion in market capitalization in overnight trading in the US, driven by a boom in artificial intelligence chips.Lem Holding (LEHN.SW) shares rose for a second straight day, with gains of 9.40% at close, following the company's announcement of a strategic review.Meanwhile, Hong Kong has overtaken Switzerland as the world's largest offshore wealth hub on the back of capital flows from mainland China, according to Boston Consulting Group. Cross-border assets under management in Hong Kong reached $2.95 trillion in 2025, while AUM in Switzerland amounted to $2.94 trillion.Looking ahead to the rest of the week, non-farm payrolls for the first quarter are due on Thursday, while KOF leading indicators are scheduled on Friday.
