Local fund managers and economists insist the Swiss government and central bank will not let Credit Suisse collapse, but warn the situation remains fragile and investors should add gold to their portfolios amid the ongoing market volatility.
"In our view, the impact of this news will be limited and will not escalate to a new financial crisis as Credit Suisse is a major bank linked to the global economy and financial system. There is less chance government agencies will allow the incident to escalate," said Pote Harinasuta, chief executive of One Asset Management.
