Singapore bank sees southeast Asia as a 'haven' from the trade war

SINGAPORE: United Overseas Bank Ltd. is betting Southeast Asia will shield it from the escalating trade war between the U.S. and China, distancing itself from the approach of its two main rivals that have expanded their focus to Hong Kong and the mainland.

"Asean will become a safe haven,” Chief Executive Officer Wee Ee Cheong said in an interview at UOB headquarters in Singapore, referring to the Association of Southeast Asian Nations.