Insights and Analysis

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  • Economics
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Singapore / Inflation

Singapore: Heading for a recession

March 18, 2020
Singapore: Heading for a recession

As the Covid-19 outbreak continued to worsen, a recession in Singapore appears inevitable.

Global / FX, Rates

Understanding China: The COVID-19 is a stress test on Globa...

March 18, 2020
Understanding China: The COVID-19 is a stress test on Globalization

Major stock market equity indices during episodes of major financial crisis usually rebounded 20% after 60 days from the trough.

Global / Economics & Strategy

Research Library

March 17, 2020
Research Library

Economics and Macro Strategy

China / Real Estate

China Property: Fundamentals remain largely intact

March 16, 2020
China Property: Fundamentals remain largely intact

Chinese residential property developers could see signs of improvement as early as April, assuming the virus outbreak remains well under the government’s control.

Asia / Industrials

Regional Airlines: Surviving COVID-19

March 16, 2020
Regional Airlines: Surviving COVID-19

Demand for air travel has plunged amidst the COVID-19 outbreak. We believe airlines will likely report losses for the first six months of 2020.

Hong Kong / Real Estate

Hong Kong Property: Seize this window of opportunity

March 16, 2020
Hong Kong Property: Seize this window of opportunity

Wheelock & Co sold 90% of the units on offer at its Ocean Marini project over the weekend. We believe this could spur other developers to launch more projects for sale in the near term.

Hong Kong / Equities

Hong Kong Monthly Market Pulse: Pandemic fears take centre ...

March 06, 2020
Hong Kong Monthly Market Pulse: Pandemic fears take centre stage

Core impact of Covid-19 expected to be most apparent for Hong Kong businesses in 1H20; Public vigilance and government responses to help lead rebound in 2H20.

Singapore / Equities

Thai Monthly Strategy: Multiple headwinds

March 04, 2020
Thai Monthly Strategy: Multiple headwinds

Rising political risks, slowing economy and Covid-19 led uncertainties caused SET to tumble 15% year to date, severely underperforming regional peers.

Hong Kong / Equities

Hong Kong Market Strategy: Approaching the turning point

February 19, 2020
Hong Kong Market Strategy: Approaching the turning point

Oversold sectors expected to outperform as the global economy moves to recovery stage as new confirmed Covid-19 cases drop steadily.

Economics Daily

  • Economics
  • Macro Strategy
  • Economics
  • Macro Strategy
South Korea / Interest Rate

South Korea: Another rate cut to go

March 17, 2020
South Korea: Another rate cut to go

The Bank of Korea cut rates by 50bps to 0.75% at an emergency meeting yesterday. We are adding one more 25bps rate cut into our forecast.

Asia / Growth

Impact of low oil prices overwhelmed by volatility

March 17, 2020
Impact of low oil prices overwhelmed by volatility

Global oil prices have been dealt with a one-two punch this year. We highlight implications of low oil prices for Asia in four key points.

Japan / Monetary

Japan: BOJ expands risky asset purchases

March 16, 2020
Japan: BOJ expands risky asset purchases

The Bank of Japan announced to expand the purchases of risky assets at today’s meeting, including ETFs, REITs, CPs and corporate bonds.

Singapore / FX

Weaker SGD NEER, volatile USD/SGD

March 18, 2020
Weaker SGD NEER, volatile USD/SGD

We expect the SGD NEER policy band to stop appreciating and re-centre lower. USD/SGD has been known to be volatile when this happens especially after emergency Fed rate cuts.

Global / Rates

Rates: Rethinking risk-free

March 18, 2020
Rates: Rethinking risk-free

There is a need to rethink how USTs move as the Fed hits the zerobound.

Global / FX, Rates

A pause after frantic selling

March 18, 2020
A pause after frantic selling

FX: Markets may be oversold in the short term to digest pessimism. Rates: The seeds of recovery have been sown.

Market Movers

  • Daily Digest
  • Strategy
  • Daily Digest
  • Strategy
Developed Markets / Equities

US stocks jump as Fed unleashes emergency lending

March 18, 2020
US stocks jump as Fed unleashes emergency lending

Meanwhile, Europe equities climb on US and Spanish aid

Asia / Equities

Chinese investors find new haven

March 18, 2020
Chinese investors find new haven

Bets on fiscal stimulus see rebar’s unexpected ascent as a financial sanctuary

Global / Currencies

Rupiah drops to weakest level since 2018

March 18, 2020
Rupiah drops to weakest level since 2018

A selloff in the nation’s bonds and stocks shows little signs of abating with a worsening pandemic

Global / Perspectives

Navigating COVID-19: Factsheet

March 17, 2020
Navigating COVID-19: Factsheet

Maintain positive view on Asian HY, especially the property names.

Global / Perspectives

Market meltdown: What’s next?

March 16, 2020
Market meltdown: What’s next?

Maintain a well-diversified barbell portfolio; gain exposure to secular winners of Technology, Health Care.

Global / Perspectives

Our thoughts on the market carnage

March 10, 2020
Our thoughts on the market carnage

Market carnage drives home the importance of adopting a portfolio approach in investing.

Featured Publications

Singapore / Consumer

Singapore Downstream F&B: Mass-market F&B set to sizzle

October 22, 2019
Singapore Downstream F&B: Mass-market F&B set to sizzle

Our analysts took a deep dive exploring the F&B business environment in Singapore, and examined how businesses can thrive in this lucrative, yet ever changing landscape.

China / Real Estate

China Property Management: Catch the rising stars

October 09, 2019
China Property Management: Catch the rising stars

Our analysts took a deep dive exploring China’s property management sector as interest in property investment continues to grow along with the country’s burgeoning economy.

Vietnam / Equities

Understanding Vietnam: A Rising Star

September 19, 2019
Understanding Vietnam: A Rising Star

Vietnam has found itself in a sweet spot as the prime beneficiary of the US-China Trade War, so much so that its economy is set to be bigger than that of Singapore’s within a decade.