Inflation Fears Tied to U.S. Policies Could Boost Singapore Equities
Inflation Fears Tied to U.S. Policies Could Boost Singapore Equities
Although the policy direction seems settled, uncertainty about the timing and details of these measures – critical factors for investment decisions – could reshape market expectations.Experts said investors will likely shift to safe havens like Singapore amidst uncertainty.
专家表示，在不确定性中，投资者可能会转向新加坡等安全避风港。
The equity market in Singapore could gain from inflation uncertainty tied to new U.S. tariff and immigration policies, Morgan Stanley (MS) experts said.
摩根士丹利（MS）专家表示，新美国关税和移民政策所引发的通胀不确定性可能使新加坡的股市受益。
MS experts said policy shifts from the new Republican administration in the US could have widespread effects on global markets, including Singapore.
摩根士丹利的专家表示，美国新共和党政府的政策调整可能对包括新加坡在内的全球市场产生广泛影响。
Although the policy direction seems settled, uncertainty about the timing and details of these measures – critical factors for investment decisions – could reshape market expectations.
虽然政策方向似乎已确定，但对这些措施的时间和细节的不确定性——这是投资决策的关键因素——可能会重新塑造市场预期。
Potential inflationary impacts from US tariff and immigration policies are key unknowns, likely contributing to fluctuating interest rate expectations in 2025.
美国关税和移民政策可能带来的潜在通胀影响是关键未知数，可能导致2025年利率预期波动。
Amidst this uncertainty, MS investors may shift to defensive equity allocations, increasing their focus on safe havens like Singapore.
在这种不确定性中，摩根士丹利的投资者可能会转向防御型股票配置，增加对新加坡等安全避风港的关注。
In addition to the U.S. effect, MS said Singapore's stock market stands to gain from local government initiatives to revitalise its struggling market.
除了美国的影响，摩根士丹利表示，新加坡的股市也有望从当地政府振兴其疲软市场的举措中受益。
"The combination of stronger political will and low market expectations reinforces our belief that upcoming initiatives could have a significant positive impact, even if the details are yet to be finalized," MS said.
摩根士丹利表示：“更强的政治意愿和低市场预期的结合加强了我们对即将出台的举措将产生显著积极影响的信念，即使细节尚未最终确定。”
According to the experts, "The new measures will likely aim to enhance stock trading liquidity through capital injections, potentially boosting valuation multiples by up to 20% and narrowing the gap with global benchmarks."
专家表示：“新的措施可能旨在通过资本注入增强股票交易流动性，可能将估值倍数提高至20%，并缩小与全球货币基准之间的差距。”
MS predicts 2025 will be another "fruitful" year for Singapore, despite challenges in the regional market.
摩根士丹利预测，尽管区域型市场面临挑战，2025年将是新加坡的又一个“丰收”年。
The re-rating of below-trend valuation multiples, driven by market reforms and reversing fund outflows, is expected to underpin this growth.
市场改革和逆转基金流出所推动的低趋势估值倍数的重新评级，预计将支撑这一增长。
