Stepping into the final quarter of the year, we have recalibrated our asset allocation to reflect shifting global dynamics and evolving policy signals. One of the key changes we have made is to increase exposure to onshore Chinese equities, where selective growth opportunities are emerging....

President Trump appears to be achieving his key objectives on trade. Several major trading partners have acquiesced to tariffs while agreeing to enhance market access for US firms. Financial markets, which were initially unsettled by the overhaul of global trade, seem to have adjusted to...

From the brink of a bear market, US stocks have staged a ten-trillion-dollar rally, bringing record highs within reach. Summer is in full swing in the equity space, with easing tensions in the Middle East and hopes of Fed rate cuts boosting the mood. However,...

  Waters have been increasingly choppy since President Trump announced his “reciprocal” tariffs on April 2. In the week following the announcement, more than USD 5 trillion was wiped off the S&P 500, the Nasdaq saw a 20% correction, oil prices fell below USD 60...

Written as at April 1 The first quarter of 2025 was anything but smooth. Market volatility surged, equity markets diverged, bonds offered little in the way of refuge, and investors were reminded just how quickly sentiment can shift when policy uncertainty meets geopolitical strain. This...