Insights and Analysis

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Taiwan / GDP

Taiwan and ASEAN: A step closer

September 19, 2017
Taiwan and ASEAN: A step closer

There is plenty of room for Taiwan to diversify from China to Southeast Asia; we assess the opportunities and risks in the ASEAN market – looking at growth prospects, labour resources, and macroecono...

Global / GDP

Q4 Outlook: Enduring myths

September 07, 2017
Q4 Outlook: Enduring myths

The myth that Asia is still dependent on the US for growth needs to be popped; it won’t be long, we believe.

India / Rates

India’s policy dilemma

August 31, 2017
India’s policy dilemma

The Reserve Bank of India needs to balance liquidity, INR strength, and inflation as USD inflows strengthen. Should the Reserve Bank of India be lowering interest rates to stem inflows?

China / Consumer

Education sector to re-rate

September 18, 2017
Education sector to re-rate

We have revised our target price to 25-28x FY18 price-to-earnings to reflect the new market views on the sector; Yuhua remains our top pick.

China / Real Estate

A weak start to golden September

September 14, 2017
A weak start to golden September

A weekly snapshot of the Chinese property market – from sales volume to inventory levels – in the Tier-I to -III cities; as well as an overview of the share performance of sector players.

China / Real Estate

What’s the impact of IFRS 15?

September 08, 2017
What’s the impact of IFRS 15?

We think that the new accounting regulations may result in slightly more attractive price-to-earnings ratios for 2018 but the impact may not be significant. Greentown, KWG, and Sunac could be the key...

Global / Equities

Not all ETFs are thriving

September 18, 2017
Not all ETFs are thriving

Exchange-traded funds (ETFs) are gathering assets at a record pace but not all are thriving, with a record 42 ETFs scheduled to close in September. For more, see our Weekly Global ETF Commentary.

Global / Equities

Inflows running at more than double last year’s pace

September 11, 2017
Inflows running at more than double last year’s pace

The US market’s rally might have paused in August, but net inflows into ETFs showed no signs of slowdown. Inflows this year are running at more than double last year’s pace. For more details, see our...

Global / Equities

Global stocks chalk up first gain in 3 weeks

August 28, 2017
Global stocks chalk up first gain in 3 weeks

Traders attribute the low volume to the lack of economic news and the traditionally listless trading towards the end of August, the last days of summer. For more details, see our Weekly Global ETF Co...

Economics Daily

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Singapore / GDP

Singapore’s exports surge again

September 19, 2017
Singapore’s exports surge again

Non-oil domestic exports for August surged 17% as both electronics exports and non-electronics shipments rose.

Philippines / Rates

Foreign exchange dynamics to blame

September 19, 2017
Foreign exchange dynamics to blame

Short-term PHP swaps are now below the three-month PHP rate. While this would typically suggest impending rate cuts, we maintain that foreign exchange interplay remains the main driver.

Indonesia / GDP

Indonesia’s import growth may exceed 10% this year

September 19, 2017
Indonesia’s import growth may exceed 10% this year

Imports of intermediate, consumer, and capital goods are all up in the year to August, reflecting the solid outlook for export growth as well as domestic demand.

Global / Currencies

Focus remains on FOMC

September 19, 2017
Focus remains on FOMC

The USD continues to be underpinned by quantitative tightening expectations. The Fed is expected to announce its intention to start unwinding its balance sheet at its Wednesday meeting.

Global / Currencies

Geopolitical risks and the FOMC will loom large this week

September 18, 2017
Geopolitical risks and the FOMC will loom large this week

Markets will be watching US President Donald Trump’s address to the United National Security Council and the Federal Reserve’s policy on rates.

Global / Rates

Markets focus on tightening

September 18, 2017
Markets focus on tightening

Markets have become resistant to geopolitical risks, and are instead focused on possible monetary tightening in the developed economies.

Market Movers

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Developed Markets / Equities

US shares cap best week since January

September 18, 2017
US shares cap best week since January

Investors show resilience in the face of a North Korean missile test

Asia / Equities

Most Asian markets higher

September 18, 2017
Most Asian markets higher

Investors shrug off North Korea’s latest missile launch

Global / Currencies

The dollar trims weekly gain

September 18, 2017
The dollar trims weekly gain

Unexpected decline in US retail sales weigh on the greenback

Global / Insights

US debt ceiling, tax reform take centre stage

August 28, 2017
US debt ceiling, tax reform take centre stage

Investors are increasingly buying protection for downside risks

Global / Insights

EM outperforms DM on mounting US political turmoil

August 21, 2017
EM outperforms DM on mounting US political turmoil

Global investors are seeking cheaper exposures to equities

Global / Insights

Risk assets: shaken, but not stirred

August 14, 2017
Risk assets: shaken, but not stirred

Despite the volatility, the magnitude of the recent correction suggests that markets have been pricing in an eventual resolution to the crisis

Global / Outlook

3Q17: Desperately seeking value

June 27, 2017
3Q17: Desperately seeking value

Neither feast nor famine - that is the frustrating outlook for global equities

Global / Equities

The markets needed a correction; they will get it

May 19, 2017
The markets needed a correction; they will get it

After all, this is a market priced for perfection – not a loose cannon President, say DBS Chief Investment Officer Lim Say Boon and Strategist Jason Low

Global / Equities

Have global equities hit stall speed?

May 12, 2017
Have global equities hit stall speed?

DBS Chief Investment Officer Lim Say Boon thinks global equitiesmay be about to fall out of their trading ranges.

Featured Publications

China / Real Estate

China Retail Property: Don’t underestimate rental upside

September 07, 2017
China Retail Property: Don’t underestimate rental upside

While retail space in China is set to increase over the next couple of years, we think that the risk of oversupply is overstated; we analyse the trends and dynamics which we believe would prop up ret...

Global / GDP

Q4 Outlook: Enduring myths

September 07, 2017
Q4 Outlook: Enduring myths

The myth that Asia is still dependent on the US for growth needs to be popped; it won’t be long, we believe.

Global / Oil and Gas

Oil price: Rebalancing underway

August 25, 2017
Oil price: Rebalancing underway

We have lowered our 2017 Brent crude oil price forecast by US$5 per barrel due to higher-than-expected US shale production. But we remain positive on rebalancing in 2H17 and into 2018.