ASEAN Speaks

In this episode, our host Seng Yeow, explores whether global markets are entering a new monetary regime as investors reassess the outlook for interest rates, political risk and the growing role of artificial intelligence in corporate strategy.We begin with US and Asian fixed income markets, where our Head of Fixed Income, Winson Phoon, discusses whether the era of easy money has come to an end following recent developments at the US Federal Reserve. He examines whether investors are underestimating the potential structural changes that could emerge under the influence of former Fed Governor Kevin Warsh, and assesses whether Asian credit duration remains attractive as regional central banks are forced to maintain tighter monetary policy than domestic economic conditions may warrant.Next, turning to the palm oil sector, our Plantations Analyst, Ong Chee Ting focuses on Indonesian producers following a prolonged period of underperformance driven by export restrictions and policy uncertainty. He explains why political risks may now be more than fully priced in, underpinning his recent upgrade of First Resources, and discusses the outlook for BUMI amid evolving government policies.Stay Tuned!Edited by Victoria Zhou

The countdown to year-end has begun and markets are showing momentum. In this week’s episode of Market Monday, host Thilan breaks down the key movers and macro shifts shaping Singapore’s investment landscape.Xuan Hao shares his BUY initiation on iFAST with a target price of SGD11.95, highlighting the catalysts behind the fintech’s strong outlook.Next, we turn to Sheng Siong, which surged nearly 6% after strong 3Q results. Analyst Hussaini reiterates a BUY rating, calling the supermarket chain one of the best proxies for Singapore’s domestic growth story.Special guest Tim Philips, founder of TimTalksMoney and SGX Academy Trainer, joins to discuss SaaS and cloud stocks such as AvePoint and what makes this sector appealing to investors.Promo: From now until 31 January, investors who trade AvePoint, Azeus Systems, or Info-Tech Systems on SGX will receive a SGD20 shopping voucher.

In this week’s episode, Seng Yeow hosts, joined by Erica and Hussaini. Seng Yeow opens the discussion with the week’s key geopolitical and macro developments — including renewed Israel–Hamas tensions and the U.S. plan to impose 100% tariffs on Chinese imports by November 1 — framing them as signs of growing strain in global markets. He notes that “markets don’t die of altitude — they die of exhaustion,” reflecting the cautious investor sentiment seen lately. Erica shares insights on China’s 15th Five-Year Plan, highlighting the country’s push for long-term self-sufficiency and structural reforms. Hussaini wraps up with a defensive view, reiterating a BUY rating on Sheng Siong for its resilient fundamentals and steady performance amid uncertainty.

In this week’s episode of ASEAN Speaks, Singapore takes center stage with a construction boom that could reshape the economy. Our Macro Team forecasts the sector to grow at more than 5% annually between 2025 and 2030—well above GDP. Hak Bin shares how this compares with past cycles, what’s fueling the surge, the potential spillover to the broader economy, and the key risks to watch.We then move to the Telco and Internet space. Hussaini breaks down Optus’ latest outage just as a Singtel delegation meets Australian regulators, plus what Simba’s latest results mean for Singtel and StarHub. He also covers Grab’s launch of self-driving services in Punggol and what it could mean for earnings and valuations. And with Wilmar’s cooking oil case overturned by Indonesia’s Supreme Court, Hussaini explains the implications for the stock.Tune in for these insights and more to help you navigate the week’s market moves.Edited by Xuan Hao, Wanzhen

In this week’s ASEAN Speaks, our host Thilan kicks off with the latest tailwinds driving Southeast Asia’s internet and telecom sectors.Hussaini, our TMT analyst, breaks down Sea Limited’s Shopee momentum and AI-driven gaming push, then explains why he’s bullish on Singapore Telecommunications and Indosat.Finally, Seng Yeow from our Quant team reviews Malaysia’s 2Q earnings season, highlighting positive market sentiment and key portfolio rebalancing signals.Edited by Shaina and Sheryl

In this week's ASEAN Speaks, our host Thilan goes through the many tailwinds boosting Singapore's market.Brian comes in to talk about Singapore's recent jump in manaufacturing numbers and why the economics team is forecasting a potentially higher GDP growth for Singapore.Hussaini, our TMT analyst talks about Singtel's recent investor day and the key takeaways that he believes supports his reiteration of a BUY on Singtel.Focusing on Indonesia, Etta goes through why he believes GoTo share price is likely to double after GoTo posts their 1H numbers amidst the chaos happening in Indonesia currently.Jarick also comes on to highlight ISOTeam's FY25 earnings, their future prospects and expected rebound as well as on Marco Polo Marine's interest on listing in Taiwan.Edited by Bruce