But Yonghao Pu, UBS Chief Investment Strategist for Asia-Pacific, says more stimulus is not as simple as it sounds.

CNN: Will `Abenomics' lift Japan from recession?

"We expect construction spending will continue to grow modestly in 2013, and rail equipment spending will see a faster rebound in 2013, " Richard Wei, head of Asia transport research at UBS, wrote in a research report.

WSJ: China's Railway Ministry Gets Approval for Bonds

This may be due to the fact that though UBS is well established in Europe and Asia, it faces much more competition in the US, where the industry is more fragmented with the presence of a large number of boutique wealth management service providers.

FORBES: Rich Clients Push UBS Up To $20 Almost

We discussed the growth in Asia as key driver to the stock in a past article: UBS Wealth Management is Key Driver to Stock Price.

FORBES: Rich Clients Push UBS Up To $20 Almost

Mansoor Mohi-Uddin, chief currency strategist at UBS, said that there was a sentiment in the market that "central banks from Asia and the Middle East are buying euros".

BBC: Recent rebounds in the dollar have proved to be short lived