Deputy Chief Economist

Sharmila Whelan

Independent and original Asian investment research

Aletheia Capital

Aletheia Capital (HK) Ltd. (previously known as Asianomics) combines the extensive knowledge of its experienced team with technology and regulatory changes to disrupt Global Markets business in Asia. The firm is completely independent with no conflicts of interest either on Investment Banking advisory or Capital Markets execution.

Macroeconomics

<p>Advance 3Q GDP estimates disappointed on the downside. On the upside the Monetary Authority of Singapore (MAS) did deliver, reducing, in line with our and market expectations, the rate of appreciation of the Singapore dollar nominal effective exchange rate band. We however remain underweight Singaporean equities.</p>

Advance 3Q GDP estimates disappointed on the downside. On the upside the Monetary Authority of Singapore (MAS) did deliver, reducing, in line with our and market expectations, the rate of appreciation of the Singapore dollar nominal effective exchange rate band. We however remain underweight Singaporean equities.

Singapore - Growing Headwinds