Insights and Analysis

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Europe / Rates

The European Central Bank is not ready to hike rates

May 23, 2017
The European Central Bank is not ready to hike rates

The ECB is unlikely to tighten monetary policy quickly; inflation – as well as memories of premature hikes in 2008 and 2011 – will stay their hand.

China / GDP

A reality check for China

May 16, 2017
A reality check for China

While China’s economy is not about to fall off a cliff, measures such as income growth per capita and industrial production are slowing – a result of deleveraging. Careful management of the deleverag...

India / Rates

Is a rate cut in the offing?

May 16, 2017
Is a rate cut in the offing?

The recent path that inflation is taking is at odds with the Reserve Bank of India’s cautious policy stance.

Hong Kong / Real Estate

No substantial impact likely from tighter lending rules

May 22, 2017
No substantial impact likely from tighter lending rules

With solid demand from local end-users, any near-term impact of tightened lending rules on the market should not be substantial. We do not expect any meaningful market correction in the coming few mo...

Hong Kong / Financials

Another round of prudent measures for mortgages

May 22, 2017
Another round of prudent measures for mortgages

We see the latest round of guidelines as a prudent move by regulators to constantly monitor the property market in Hong Kong as well as to contain risks at the banks.

Indonesia / Consumer Goods

Weak auto sales volume in April

May 19, 2017
Weak auto sales volume in April

Indonesia’s two-wheel (2W) and four-wheel (4W) sales volume dropped month-on-month in April, with the 2W demand not showing signs of recovery.

Singapore / Equities

Ride Singapore’s tech wave

May 23, 2017
Ride Singapore’s tech wave

Given the technology sector’s recent stellar price performance, we prefer to be selective in this space. We highlight other interesting small and mid-cap companies to watch.

Singapore / Equities

Reiterate BUY on Best World International

May 23, 2017
Reiterate BUY on Best World International

Best World’s efforts in raising brand awareness and product acceptance in China are beginning to bear fruit. For more top stories on Singapore’s market, see Singapore Wired Daily.

Global / Equities

Weekly Global ETF Commentary

May 22, 2017
Weekly Global ETF Commentary

Our weekly analysis of exchange-traded funds and flows around the globe to aid investors in making informed decisions. Follow us as we follow the money.

Economics Daily

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Indonesia / Inflation

Inflation in Indonesia may still exceed 5% later this year

May 23, 2017
Inflation in Indonesia may still exceed 5% later this year

We continue to see a decent chance of consumer price index inflation topping the 5% mark later this year. Note that Bank Indonesia’s inflation target is set at 3-5% for the year.

Taiwan / GDP

A moderation in exports is underway

May 23, 2017
A moderation in exports is underway

It now appears clear that Taiwan’s exports-driven recovery has lost some momentum in 2Q. But it is too early to call a turn in the short-term cycle as a rebound remains likely in the later part of th...

India / GDP

India’s GST regime is taking shape

May 22, 2017
India’s GST regime is taking shape

India’s goods and services tax framework is being finalised, ahead of the rollout in July. Meanwhile, we expect the recent rebasing exercise to lift GDP growth figures for the past two years.

Europe / GDP

As investment growth picks up, Eurozone recovery is likely ...

May 23, 2017
As investment growth picks up, Eurozone recovery is likely to strengthen further

Investments have been slow to catch up to the recovery in household spending but the environment has recently become more conducive for a turnaround.

Europe / Currencies

EUR/GBP firm ahead of 8 June

May 23, 2017
EUR/GBP firm ahead of 8 June

The EUR/GBP has been firm on expectations for more clues from the ECB on its exit strategy amid new concerns the UK Conservative Party may secure an uninspiring mandate at the elections.

US / GDP

Industrial production will no longer subtract from US GDP g...

May 23, 2017
Industrial production will no longer subtract from US GDP growth

US industrial production has rebounded into the 2-2.5% range after its 2014 collapse, making a bigger difference to the economy than one might think.

Market Movers

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Developed Markets / Equities

US stocks advance for third day

May 23, 2017
US stocks advance for third day

Presidential visit to Saudi Arabia nets deals that lift industrial shares

Global / Currencies

The euro hit its highest since November

May 23, 2017
The euro hit its highest since November

The dollar stabilises after its biggest weekly slump since July

Asia / Equities

Asian equities hold gains

May 23, 2017
Asian equities hold gains

But China stocks largely weaker amid ongoing concern over tight regulations

Global / Insights

DBS Chief Investment Office Collection

May 22, 2017
DBS Chief Investment Office Collection

The DBS Chief Investment Office brings you insights and analysis on what's driving global financial markets to help you make informed investment decisions

Global / Equities

S&P 500 Index Pullback: No Surprise

May 22, 2017
S&P 500 Index Pullback: No Surprise

Risk assets, particularly US equities, corrected last week while the classic flight to safe havens took hold

Global / FX Currents

JPY is likely to correct before ticking up

May 16, 2017
JPY is likely to correct before ticking up

Any downside push would look corrective, providing a bottom-picking opportunity.

Europe / Equities

ArcelorMittal's recovery could extend

May 22, 2017
ArcelorMittal's recovery could extend

The recent slide provides a tactical opportunity in ArcelorMittal

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

Thyssenkrupp has surged in recent sessions; take profit

May 18, 2017
Thyssenkrupp has surged in recent sessions; take profit

The trade is well in-the-money; broader market volatility could cap further gains in the stock. See also: Abbott Laboratories

Featured Publications

Indonesia / Consumer Goods

Animal Protein: An Asian Consumption Story

April 12, 2017
Animal Protein: An Asian Consumption Story

We believe the market has underestimated the animal protein sector’s earnings growth potential – based on where the required capacity will be over the next five years.

Malaysia / Financials

Islamic Banking: An Unconventional Banking Aspect

April 11, 2017
Islamic Banking: An Unconventional Banking Aspect

Malaysia, having acquired expertise through actively pioneering initiatives and delivering solutions in the Islamic banking industry, is indisputably making inroads into becoming the global hub for I...

Asia / Industrials

Aircraft Leasing – Asian Players Taking Flight

April 06, 2017
Aircraft Leasing – Asian Players Taking Flight

Today, five of the 12 largest aircraft lessors hail from Asia. Most of their growth were through acquisition and they have been linked to all manner of activity in the aviation sector.