global economy

Singapore is one of UBS’ most preferred equity markets in this region and Tan urges investors to look past the short term challenges, and stay vested and bullish.

Canada’s loss may be Singapore’s gain.

The International Monetary Fund downgraded its outlook for the coronavirus-ravaged world economy, projecting a significantly deeper recession and slower recovery than it anticipated just two months ago.

In Singapore, UOB foresees a recession looming, in line with the economic performance across the ASEAN region. It has also kept its full-year headline and core inflation at -0.3% in 2020.

In response to the uncertainty, consumers have cut spending and increased savings, businesses are slashing prices, and wages are under pressure. Deflationary pressures are all around.

Yet, despite the latest bout of volatility, markets have stayed very resilient. The strength and durability of the current rally continue to confound many professional market observers.

For investors who are viewing the New Economy Fund as just another “tech-focused fund”, Budden stresses that the fund is far from a “hot, thematic fund” that focuses only on the latest trends.

Singapore is one of UBS’ most preferred equity markets in this region and Tan urges investors to look past the short term challenges, and stay vested and bullish.

Instead of a V-shaped economic recovery as previously predicted, Schroders’ chief economist and strategist Keith Wade is downgrading his forecast for global growth to reflect the dull first quarter in 2020.

Asian stocks rebounded from their biggest decline since March and U.S. futures climbed after news about US monetary and fiscal stimulus plans bucked up investor sentiment in face of worries over a second wave of the coronavirus.