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Global / Economics & Strategy

Research Library

November 19, 2019
Research Library

Economics and Macro Strategy

Singapore / Growth

Singapore outlook 2020: Getting out of the woods

November 18, 2019
Singapore outlook 2020: Getting out of the woods

A trough in the growth cycle is in the making, with outlook expected to improve gradually. GDP growth is expected to register 1.4% in 2020 while inflation should remain manageable at 1.1% next year.

China / Growth

China 2020 – A Better Year Ahead

November 11, 2019
China 2020 – A Better Year Ahead

China’s GDP growth will moderate to 5.8% next year, slower than the 6.1% forecast for 2019. Intensified policy support is a necessity to buttress the economy.

China / Consumer

China Auto Sector: Signs of bottoming out

November 14, 2019
China Auto Sector: Signs of bottoming out

The vehicle market is showing signs of bottoming out as recent passenger vehicle retail sales was down, but we expect vehicle sales to gradually improve in November and December.

China / Real Estate

China Property Sector: Recent correction creates entry poin...

November 14, 2019
China Property Sector: Recent correction creates entry points

Recent residential property sales y-o-y growth has accelerated, led mainly by a combination of largely steady growth in residential GFA sold and a pickup in residential ASP growth.

China / Financials

China Banking Sector: Look for good buys

November 07, 2019
China Banking Sector: Look for good buys

PBOC has cut RRR for selected rural and commercial banks in view of ongoing deleveraging and asset quality deterioration.

Hong Kong / Equities

Monthly Market Pulse: Back on track

November 06, 2019
Monthly Market Pulse: Back on track

US-China trade war détente bodes well for equity markets as HSI rebounded 6.5% from recent lows, reflecting investors’ returning risk appetite.

China / Equities

Monthly Market Pulse: IPO activities resume despite ongoing...

October 04, 2019
Monthly Market Pulse: IPO activities resume despite ongoing challenges

Civil unrest in HK adds to challenging relationship stemming from US-China trade war. Investors advised to focus on defensive names and those that offer secular growth opportunities.

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.

Economics Daily

  • Economics
  • Macro Strategy
  • Economics
  • Macro Strategy
Asia / Growth, Equities

Chart of the Week: Asia’s softened equity markets

November 18, 2019
Chart of the Week: Asia’s softened equity markets

Level of equity prices is by no means low, there is a tell-tale lack of exuberance in the markets.

Asia / Equity, Property

Weekly: Asia’s softened property and equity markets

November 15, 2019
Weekly: Asia’s softened property and equity markets

Economic slowdown and geopolitical uncertainties have taken a large amount of froth out of Asia’s property and equity markets in recent years.

China / Growth

China: Sub-6% growth ahead

November 14, 2019
China: Sub-6% growth ahead

GDP growth will slow further to 5.8% in 4Q19 and result in a full-year of 6.1% this year.

Global / FX, Rates

PBoC steps up efforts to fight slowdown; Stay constructive ...

November 19, 2019
PBoC steps up efforts to fight slowdown; Stay constructive on RPGBs

China's loan prime rate will likely be lowered by 5-10bps on November 20 followed by more cuts in the coming months. We like that RPGBs have low sensitivities to the trajectory of US-China.

Global / FX, Rates

Staying neutral this week

November 18, 2019
Staying neutral this week

USD interest rates are about appropriate at current levels. Exchange rates are range-bound in the quiet week ahead.

Global / FX, Rates

Hawkish drift in rates and FX

November 15, 2019
Hawkish drift in rates and FX

10Y US yields to cross 2% over medium term. Awaiting US Treasury FX report.

Market Movers

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

Powell meets Trump in rare sit-down

November 19, 2019
Powell meets Trump in rare sit-down

US stocks edge higher to fresh records

Global / Currencies

GBP touches six-month high on optimism for Brexit

November 19, 2019
GBP touches six-month high on optimism for Brexit

Sterling strengthened vs all its G-10 peers

Asia / Equities

Taiwan sees chance to reclaim lost industries

November 19, 2019
Taiwan sees chance to reclaim lost industries

It plans to be a centre for them as trade war forces tech suppliers to rethink reliance on China

Global / Perspectives

Post FOMC: Stay engaged in risk assets

November 01, 2019
Post FOMC: Stay engaged in risk assets

Our analysis of the US global cyclicals over non-cyclicals ratio vs the UST 10-year yield suggests that the bond market has overpriced US recession risk.

Global / Perspectives

Is the US slipping into an earnings recession?

October 22, 2019
Is the US slipping into an earnings recession?

Ongoing corporate shares buyback will continue to underpin US earnings momentum; Stay invested in US equities via a thematic approach.

Global / Perspectives

A broadening equity rally

September 20, 2019
A broadening equity rally

The combination of monetary accommodation and firm economic conditions is constructive for the S&P 500. Stay invested within the Barbell Strategy.

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.