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.

Singapore / Real Estate

Land-hungry developers continue to bid up land prices

May 26, 2017
Land-hungry developers continue to bid up land prices

A consortium paid a robust S$575m for Rio Casa, implying that the developers could be expecting home prices to rebound when the project is launched, sometime in late 2018.

Thailand / Real Estate

1Q17 should be this year’s trough for Thai real estate

May 25, 2017
1Q17 should be this year’s trough for Thai real estate

The recent share price correction in the sector present a buying opportunity as we believe there should be significant improvements in the low-end market toward the end of 2017.

Indonesia / Financials

Indonesian multi-finance companies: Bridging gaps with the ...

May 25, 2017
Indonesian multi-finance companies: Bridging gaps with the underbanked

The opportunity to reach out to Indonesia’s vast unbanked population may lie with the country’s multi-finance companies; we take a look at the key players, the potential for growth, and what lies ahe...

Thailand / Equities

Pulse of Asia: Eye on Thai companies

May 26, 2017
Pulse of Asia: Eye on Thai companies

Factory Outlet, Group Lease, PTT, and Tipco Asphalt met investors at a DBS-hosted event, where management of each company gave presentations on the highlights of their business and shared their views...

Singapore / Equities

Initiating coverage on Sunningdale

May 26, 2017
Initiating coverage on Sunningdale

We have a BUY rating on Sunningdale as we see a robust growth outlook for the precision plastic components manufacturer. For more top stories on Singapore’s market, see Singapore Wired Daily.

Hong Kong / Equities

Pulse of Asia: Eye on Hong Kong companies

May 25, 2017
Pulse of Asia: Eye on Hong Kong companies

We hosted 19 companies on the first day of our Pulse of Asia conference in Hong Kong, providing investors a chance to interact with the companies’ management. Read on to find out more.

Economics Daily

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Indonesia / GDP

Current account deficit is unlikely to stay at 1% of GDP

May 26, 2017
Current account deficit is unlikely to stay at 1% of GDP

At this juncture, we expect full-year C/A deficit to come in at 1.9% of GDP.

Singapore / GDP

Singapore’s manufacturing rally could be nearing its end

May 26, 2017
Singapore’s manufacturing rally could be nearing its end

Signs are emerging that Singapore’s manufacturing rally may be near its end, with the most recent set of high-frequency data suggesting that industrial output is slowing.

India / GDP

Employment remained resilient to India’s banknote ban

May 26, 2017
Employment remained resilient to India’s banknote ban

Just as India’s 4Q16 growth surprised to the upside despite the November 2016 banknote ban, employment trends were similarly positive.

US / Rates

A gradual approach to shrinking Fed balance sheet to reduce...

May 25, 2017
A gradual approach to shrinking Fed balance sheet to reduce tantrum risk

And we are of the view that shrinking the balance sheet should not have much impact on USD interest rates for quite some time.

US / GDP

We’re still waiting for a more credible US budget plan

May 25, 2017
We’re still waiting for a more credible US budget plan

We have yet to factor any Trump stimulus into our outlook for the US economy. Until a more credible budget plan is seen, we’re inclined to keep things that way.

Global / Currencies

ECB rhetoric is still ruling trade in the dollar and the EU

May 25, 2017
ECB rhetoric is still ruling trade in the dollar and the EUR

The market remains obsessed with a change in the ECB’s language at its next governing council meeting on 8 June, in particular, its guidance on its exit strategy from its ultra-loose monetary policy.

Market Movers

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Asia / Equities

Asian shares extend gains

May 26, 2017
Asian shares extend gains

South Korea touches all time high; China shrugs off Moody’s first downgrade since 1989

Developed Markets / Equities

US rise to fresh records again

May 26, 2017
US rise to fresh records again

The S&P 500 Index completes its rebound from the biggest sell-off of the year a week ago

Global / Currencies

The dollar pares earlier losses to finish higher

May 26, 2017
The dollar pares earlier losses to finish higher

Tumbling crude oil prices weigh on commodity-driven currencies

Global / Insights

DBS Chief Investment Office Collection

May 26, 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 / Financials

Indonesian multi-finance companies: Bridging gaps with the ...

May 25, 2017
Indonesian multi-finance companies: Bridging gaps with the underbanked

The opportunity to reach out to Indonesia’s vast unbanked population may lie with the country’s multi-finance companies; we take a look at the key players, the potential for growth, and what lies ahe...

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...