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Confirmed but contained: Singapore's 12.5% US tariff takes effect, thesis intactMacro Research

Confirmed but contained: Singapore's 12.5% US tariff takes effect, thesis intact

The Section 301 forced-labour tariff flagged in our June note has now been confirmed and took effect today (24 July 2026, SGT 12 pm), lifting Singapore's effective US tariff rate to 12.5%. The constructive investment case for Singapore holds, with the unresolved overcapacity probe remaining the key variable to watch.

By  Tan Qiuyi Charmaine | 2 Days Ago |174 Views
SGXEquityGeneralSingaporeSingaporeTariffsTariffs
The US imposes new tariffs on 60 economies. Here’s what you need to know Macro Research

The US imposes new tariffs on 60 economies. Here’s what you need to know

After months of calm, tariff risks are back in focus. While the latest US tariffs are unlikely to materially increase the overall tariff burden for now, the risk of further measures remains, reinforcing the need for investors to position portfolios for a prolonged period of policy and macroeconomic uncertainty.

By  Joel Phua | 2 Days Ago |138 Views
USEquity2026Tariffs
Singapore’s NODX continues to expand, further solidifying its economic resilienceMacro Research

Singapore’s NODX continues to expand, further solidifying its economic resilience

June NODX grew 20.7% YoY, moderating from May’s exceptional 38.4% surge, as electronic NODX surged past 100% while non-electronic NODX slipped into contraction. Combined with a 12.2% YoY manufacturing print in 2Q26 GDP, the data reinforces our positive view on Singapore’s AI semiconductor positioning.

By  Tan Qiuyi Charmaine | 3 Days Ago |125 Views
SGXTechnologySingaporeFinancial ServicesNODX
Global Healthcare Outlook 2H26: Selectivity is key as pharma navigates pricing and patent headwindsMacro Research

Global Healthcare Outlook 2H26: Selectivity is key as pharma navigates pricing and patent headwinds

Drug pricing reforms and the looming patent cliff remain key overhangs for the healthcare sector, but we believe these risks are manageable and largely priced into current valuations.

By  Joel Phua | 20 Jul 2026 |218 Views
HealthcareEquityGlobal HealthcareEquitiesHealth CareLSE
Global Fixed Income 2H26 Outlook: Finding value in a higher-yield worldMacro Research

Global Fixed Income 2H26 Outlook: Finding value in a higher-yield world

Attractive yields support fixed income, but divergent rate paths and tight spreads favour carry, disciplined duration and selective credit exposure.

By  Global Fixed Income | 17 Jul 2026 |253 Views
Fixed IncomeGeneralBondsGlobalOutlookShort DurationMoney Market2H26
Hong Kong Outlook 2H26: From delivery price war to the AI wave, can Hong Kong regain momentum?Macro Research

Hong Kong Outlook 2H26: From delivery price war to the AI wave, can Hong Kong regain momentum?

The key to Hong Kong equities' performance in the second half depends on two main themes, an easing of the food-delivery war and China's domestic AI substitution.

By  iFAST Research Team | 17 Jul 2026 |2114 Views
HKEXEquityHong Kong2026 Investment Outlook
Asia and EM Outlook 2H26: AI powers the next leg higher as valuation remains attractive Macro Research

Asia and EM Outlook 2H26: AI powers the next leg higher as valuation remains attractive

Asian and emerging market equities are well positioned to build on their strong first-half performance, underpinned by the structural AI investment cycle and attractive valuations.

By  Hu You | 15 Jul 2026 |3874 Views
TaiwanChinaAsiaIndiaAsian semiconductorSouth Korea2026 Outlook
SGD Bonds 2H26 Outlook: Finding quality yield in an uncertain worldMacro Research

SGD Bonds 2H26 Outlook: Finding quality yield in an uncertain world

We recap what has happened in the SGD bond space for the first 6 months of 2026 and provide our thoughts on how to best position your fixed-income portfolio moving forward.

By  Wesley Hoon | 15 Jul 2026 |2510 Views
Fixed IncomeBanks#SGD2H2026Short Duration#BondsSingapore government bonds
US inflation slows, but the battle isn’t over yetMacro Research

US inflation slows, but the battle isn’t over yet

June's decline in CPI to 3.5% may have eased market concerns, but persistent geopolitical supply shocks, second-round inflationary pressures and structural AI-driven demand suggest inflation is likely to remain above the Federal Reserve's target for longer.

By  Joel Phua | 15 Jul 2026 |306 Views
USInflationEquityCPI
AI demand continues to confirm our case for Singapore equitiesMacro Research

AI demand continues to confirm our case for Singapore equities

Singapore's economy expanded 5.7% YoY in 2Q26, easing from the prior quarter’s 6.3% growth as a higher base weighed on the headline figure, even as manufacturing accelerated to 12.2% growth on sustained AI-related semiconductor demand. We maintain our positive view on Singapore equities and expect the STI to reach near 6,000 by the end of 2028.

By  Tan Qiuyi Charmaine | 15 Jul 2026 |774 Views
SGXEquityGeneralSingaporeGDP2Q26