Insights and Analysis

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China / Rates

Bond Connect sees solid demand

July 17, 2017
Bond Connect sees solid demand

The Bond Connect programme, which was launched on 3 July, has been seeing solid demand; the RMB16bn bond issue by Agricultural Development Bank of China was ten times oversubscribed

Taiwan / GDP

A temporary pause

July 11, 2017
A temporary pause

Taiwan’s economy will likely strengthen in the second half as new consumer electronics are introduced later in the year; we expect growth of 2.5% this year and 2.3% next year with upside risks to the...

Global / Currencies

Has the EUR peaked?

July 04, 2017
Has the EUR peaked?

The market may be too hasty in expecting the ECB to step up its exit from quantitative easing. We continue to see EUR/USD consolidating within its post-QE range of US$1.04-$1.16.

China / Real Estate

Listed developers’ growth in June underperformed the market

July 18, 2017
Listed developers’ growth in June underperformed the market

Listed developers’ contracted sales up 36% m-o-m, while national sales surged 45% m-o-m in June 2017.

China / Real Estate

Guangzhou pushes for rental market development

July 18, 2017
Guangzhou pushes for rental market development

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.

Global / Oil and Gas

Oil market rebalancing underway

July 18, 2017
Oil market rebalancing underway

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

Singapore / Equities

mm2 Asia sets stage for sustainable growth

July 20, 2017
mm2 Asia sets stage for sustainable growth

We have raised mm2 Asia’s target price to S$0.75 following its acquisition of Golden Village. For more top stories on Singapore’s market, see Singapore Wired Daily.

Singapore / Equities

STI’s recent rally lacks follow-through

July 19, 2017
STI’s recent rally lacks follow-through

We hold that view as we believe investors will prefer to wait for the 2Q results season to unfold. As such, we are maintaining our portfolio picks in this update of the Singapore Model Portfolio.

Global / Equities

The US ETF market passed the US$3t mark

July 17, 2017
The US ETF market passed the US$3t mark

Partly thanks to Janet Yellen’s dovish remarks, US-listed ETFs posted net inflows of US$8,249.61m in the past week. For more details, see our Weekly Global ETF Commentary.

Economics Daily

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India / Rates

RBI revives discussion on new liquidity tool

July 20, 2017
RBI revives discussion on new liquidity tool

To counter the risk to liquidity from strong foreign portfolio inflows, the Reserve Bank of India has reportedly revived discussions on a new liquidity tool – Standing Deposit Facility.

Malaysia / Rates

Monetary policy to remain accommodative

July 20, 2017
Monetary policy to remain accommodative

Easing inflation and an improving growth outlook have given Malaysia’s central bank a sweet spot to maintain an accommodative monetary policy.

Malaysia / Inflation

Inflation will continue to moderate

July 19, 2017
Inflation will continue to moderate

Easing price pressures in Malaysia have also kept pressure off the central bank, allowing it to maintain an accommodative monetary policy for the rest of the year.

Europe / Rates

ECB will be choosing words carefully

July 20, 2017
ECB will be choosing words carefully

Thursday’s policy meeting gives the European Central Bank another opportunity to temper the taper expectations that arose out of comments made last month.

Global / Rates

Anticipation ahead of central bank meetings

July 20, 2017
Anticipation ahead of central bank meetings

Markets are looking to the European and Japanese central banks’ meetings, watching for any changes in policy stance. Expectations are especially high for the European Central Bank.

US / GDP

Cooling the ever-volatile and sizzling housing market

July 20, 2017
Cooling the ever-volatile and sizzling housing market

The US housing market is sizzling; sales, starts, and permits are all rising at 3-5 times the pace of GDP growth overall and 20-30 times the growth of the working-age population. Can this last?

Market Movers

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Developed Markets / Equities

US indices top records – again

July 20, 2017
US indices top records – again

Second straight day of records for S&P 500, Nasdaq

Global / Currencies

The dollar recovers

July 20, 2017
The dollar recovers

But the euro stalls before ECB policy decision

Asia / Equities

Asian stocks rise

July 20, 2017
Asian stocks rise

Korea's Kospi Index hits a fresh record

Global / FX Currents

The loonie continues to gain ground

July 20, 2017
The loonie continues to gain ground

Why fight a central bank? Stay in lockstep with BOC hawkishness

Global / Insights

DBS Chief Investment Office Collection

July 19, 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 / Insights

Dovish Fed Boosts US Equities

July 17, 2017
Dovish Fed Boosts US Equities

The S&P 500 Index continued to push higher as the latest comments from the Federal Reserve gave a boost to sentiments

Hong Kong / Equities

Haier's recent consolidation provides a long opportunity

July 20, 2017
Haier's recent consolidation provides a long opportunity

Last week's move above a downtrend line from June confirms that the downward pressure on Haierhas eased

Hong Kong / Equities

Remain long China Communications Construction Company

July 19, 2017
Remain long China Communications Construction Company

The stock is attempting to break through a key resistance

Hong Kong / Equities

BYD could weaken before it resumes rise

July 18, 2017
BYD could weaken before it resumes rise

Exit tactical long BYD Co Ltd: after a brief positive start, the position has been essentially flat

Featured Publications

China / Consumer Goods

China Pork: A meaty task to meet demand

July 04, 2017
China Pork: A meaty task to meet demand

Rising incomes and urbanisation would drive Chinese consumers towards a diet based more heavily on animal protein. We take a look at the pork industry, which would be enjoying both steady growth and ...

Global / GDP

Q3: Forging ahead

June 08, 2017
Q3: Forging ahead

Everything in the economy is back to normal. Best plan on one hike per quarter through mid-2019, with the risk that the Federal Reserve has to up the pace before then.

Malaysia / Industrials

Malaysia construction: Chinese contractors - friend or foe?

June 02, 2017
Malaysia construction: Chinese contractors - friend or foe?

Chinese participation in Malaysia’s construction space has been the most apparent in the building sector; we think that small contractors which have the most exposure to private-sector condominium pr...