Your Way Home with Hongbin Jeong

Singapore stocks rose this morning, mirroring overnight gains in US and European markets following the release of Federal Reserve inflation data.  In early trade, the Straits Times Index (STI) rose 0.2 per cent to 3,149 points after 36 million securities changed hands in the broader market. Singapore’ growth numbers are in focus today after private economists marginally raised their forecast for Singapore’s 2024 economic growth to 2.4 per cent in the latest quarterly survey of professional forecasters published by the Monetary Authority of Singapore (MAS) Elsewhere, from a closer look at US February CPI numbers to Cathay Pacific’s latest earnings, more international and corporate headlines are in focus today.  On Market View, The Evening Runway’s finance presenter Chua Tian Tian dived into the details with David Poh, Head of Investment and ESG Strategies, South Asia, Amundi.

What were you doing at 14-years old? Well chances are you weren't clinching multiple world titles, showcasing your extraordinary talent with a steering wheel! That's exactly what Singaporean Dillan Tan has achieved at such a young age, and we spoke to him to find out more about his meteoric rise! Got a story to tell? Get in touch with us! edanker@sph.com.sg | raushan@sph.com.sg

Singapore's luxury goods market is thriving, with high demand for high-end fashion and luxury brands among the affluent. In fact, the luxury goods market in Singapore is projected to generate revenue of US$4.23 billion in 2024, up from US$4.07 billion in 2023, according to research by Statista.   But now that luxury brands are raising their prices year-on-year, why is there still a strong appetite for designer handbags? And if you're in the market for an investment piece, how well do top performers a Chanel or Hermès perform in the long-run? Jana Lata, General Manager at BJ Luxury.

Singapore shares began the day with gains after global equities ended mixed overnight.   In early trade, the Straits Times Index (STI) advanced 0.4 per cent to 3,151.54 points after 18 million securities changed hands in the broader market. In terms of companies to watch for today, we have Keppel, after the asset manager said its Data Centre Fund II signed a framework agreement with Japan-listed property player Mitsui Fudosan to purchase a data centre in western Tokyo.  Elsewhere, from a rally in Foxconn Industrial amid the global artificial intelligence frenzy to what to watch ahead of February’s US consumer price index release and Jollibee targeting exponential growth in China to triple its profits  – more international headlines remain in focus.  On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the developments with Toby Gresham, Investment Counselor Team Lead, Citi Private Bank.

 How big is the gaming market here in Singapore? Omnicom Media Group Asia Pacific’s latest research titled ‘Unlocking Gamers in Asia Pacific’ has found that not all Singaporean gamers identify with the label ‘gamer’. But despite that, Singaporean gamers have a high propensity to spend, with 56 percent spending approximately $14 and above in a month on games, surpassing the APAC average of 49 percent. Anna Lissa Bantigue, Insights and Enablement Manager, Omnicom Media Group Asia Pacific tells us more about the findings from this study. 

And it's all about China’s recently concluded ‘Two Sessions’ in this edition of China Perspective. Dr. Oh Ei Sun, Senior Fellow, Singapore Institute of International Affairs gives us his analysis of this year’s conference. 

The banking sector is in focus as we speak to Singapore’s largest foreign bank serving some 900,000 retail customers in the lion city.  Yes – we’re going to talk about Standard Chartered Bank. Founded over 160 years ago, the bank currently has a presence in 53 of the world’s most dynamic markets and serves clients in a further 64.   The bank opened its first branch in 1859 in Singapore, and became one of the first international banks to receive a Qualifying Full Bank licence in 1999.  Fast forward to 2022, the firm launched its digital bank venture Trust Bank in partnership with FairPrice Group, to drive digitalisation in the industry.  The firm had in late February announced an 18 per cent increase in pre-tax profit. It also laid out its expectations for the coming years, projecting income to grow 5 to 7 per cent between 2024 and 2026, down from the 10 per cent seen in 2023.  But how far is this driven by its business within ASEAN markets, and how far will its digital bank venture contribute to top and bottom line growth? And with the US Federal Reserve widely expected to cut interest rates this year, what will net interest margins look like for Standard Chartered, and how does it intend to get around lower NIMs? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Patrick Lee, Cluster CEO, Singapore & ASEAN Markets, Standard Chartered Bank. 

US President Joe Biden delivered his State of the Union address last week, one that could be among the most important speeches he gives during his presidency as he turns toward reelection. What were the biggest takeaways? Are Democrats fired up after President Joe Biden's State of the Union Address? Trisha Craig, Vice President (Engagement) and Senior Lecturer of Social Sciences (Sociology and Political Science), Yale-NUS College weighs in.

E-commerce entrepreneurs in Singapore contributed nearly $2 billion to the country's GDP and $1.18b in exports in 2022; a clear indication that the spirit of entrepreneurship can thrive with the right capabilities.  But what’s the perfect recipe to create successful e-commerce and succeed in the online market world? Bharati Balakrishnan, Country Director, SEA & India, Shopify weighs in.

Women still only account for around 26% of people working in IT today, according to research conducted by Women in Tech. Whilst this is an improvement from the figure of 19% in 2019, work is still needed to reach gender equality. How can we shift the dial on inclusion through inspiration? Melissa Kee, Chief People Officer, Temus weighs in.