The Afternoon Update with Lynlee Foo

Asian stocks fell sharply as a market selloff extended on mounting worries that a wide-ranging trade war could dent U.S. economic growth and lead to a recession. Fears of an economic downturn have driven a stock market selloff that wiped out $4 trillion from the S&P 500's peak last month. What does this mean for the broader economy? What should investors be watching in the days ahead? Yeap Jun Rong, Market Strategist at IG, shares his views, unpacking the impact of the U.S. market turmoil, and the spillover effects on Asia.

According to the World Gold Council, at the start of 2025, central banks reported 18 tonnes of net gold purchases, reinforcing the metal’s strategic role in official reserves amid rising geopolitical uncertainty. But how is gold demand evolving across key markets like Southeast Asia, China, India, and Japan? Shaokai Fan, Head of Asia-Pacific (excluding China) and Global Head of Central Banks at the World Gold Council, weighs in on current developments and shares insights into emerging trends; from central bank gold reserves to digital gold platforms and what they signal for the future of gold.

China's new AI player, Deepseek has sent ripples across the tech world since it emerged on the scene in January. DeepSeek’s AI model with its capabilities, are said to rival, and sometimes even surpass OpenAI’s ChatGPT but at a fraction of the cost. Distillation is the industry’s new buzzword and enables AI models to run with fewer resources. Now, a global race is on to create AI models that are cheaper for consumers and businesses to adopt. Theos Evgeniou, Professor of Technology and Business at INSEAD, discusses how the machine learning technique works, the immense potential of distillation in AI across industries and why it is crucial for businesses to stay ahead in AI development.

As people become more aware of the importance of staying healthy, and the rising costs of healthcare, there is a growing focus on preventive care and personalised medicine. How is private healthcare in Singapore adapting to technological advancements, changing consumer demands, and an aging population? What are the latest trends and challenges in the private healthcare and wellness industry? Aileen Seah, Amelia Lee, and Goh Xin Ying, co-founders of The Health Collective, which integrates chiropractic, osteopathy, and dental care to prioritise early intervention and holistic well-being share their insights. The three women leaders also touched on concerns that women tend to ignore their own health while balancing work and caregiving responsibilities, and the steps they can take for better health and well-being. 

Advanced manufacturing industry has evolved rapidly in the 21st century. Phyllis Ong, Group CEO of Armstrong Asia, which isa homegrown advanced manufacturing group that has become a leading industry player in noise, vibration, heat & safety management solutions in the region discusses the developments of this industry and the critical role of digitisation and automation. Phyllis who chairs the Singapore Manufacturing Federation’s Women in Manufacturing Committee, also shares her work approach in a traditionally male-dominated manufacturing industry and what she believes to be an important factor to her success.  

The renewable energy sector is experiencing robust growth with advancements in energy storage, grid resilience, and off-grid solutions as we transition to cleaner energy sources to combat climate change.  Filipa Ricciardi, Executive Director at leading clean energy solutions provider EDP Renewables APAC, shares insights into the transformative growth of renewable energy in Singapore and the wider Asia Pacific region including innovative solutions and the importance of public-private partnerships for the future of renewable energy.

AI and automation are transforming the workforce at an unprecedented pace, bringing new opportunities and economic benefits. While AI can revolutionise industries, boost worker productivity, and improve job quality, its broad adoption presents challenges. How can organisations and governments reduce the risks of AI displacement while maximising its transformative potential for the workforce? Moutushi Sengupta, Senior Advisor at Asia’s leading social investment network AVPN, shares her insights into current efforts to bridge the gap in an AI-first era, especially for vulnerable groups such as women, the elderly, and low-wage workers. Moutushi also discusses AVPN’s $15 million AI Opportunity Fund, aimed at equipping Asia’s workforce with the necessary skills to thrive in an AI-driven economy.  Good Tech takes an inspiring look at initiatives and thought leadership, and ways technology is used to drive impactful social change.

Malaysia’s NationGate was caught in the fallout of Singapore’s investigation into the alleged fraudulent transfer of Nvidia’s advanced artificial intelligence chips, sending its shares crashing nearly 30 per cent on Monday (Mar 3) before trading was halted for an hour on Tuesday (Mar 4). The data centre solutions provider has denied any involvement in the ongoing fraud case. The Straits Times' Malaysia Bureau Chief, Shannon Teoh weighs in with reactions from Malaysia. Shannon also shares his views on the potential of smuggling activities for restricted technology, and the impact of the AI chips probe on Malaysia's growing electronics chips market.

From the rapid growth of IoT and the rise of 5G to the impact of generative AI and edge computing, how is the telecommunications industry harnessing the power of new technologies to propel innovation forward in the connectivity space, and enable enterprises in their digital transformation? Lin ShuFen, Head of Enterprise Mobility and IoT at Singtel Singapore, discusses current trends and the opportunities presented by 5G and edge computing, particularly in network slicing and remote device management. ShuFen also highlights the vital role of women in driving innovation and change within the telecom sector, offering a unique perspective on the future of connectivity.

Singapore is transforming its agri-food industry to produce 30 per cent of our nutritional needs locally by 2030, for greater food resilience. Advancements in food technology and innovation have made it possible for Singapore to produce more food with fewer resources. Guo Xiuling, CEO of Nurasa, a Temasek-owned company leading the charge in food tech innovation across Asia shares the latest trends in food tech innovation, and efforts in leveraging technology and partnerships in developing sustainable nutrition. Xiuling also discusses the challenges in commercialising innovations, particularly in consumer adoption and affordability. She tells us how she is breaking barriers as a woman leader in a traditionally male-dominated space as we mark International Women's Day on March 8.