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.
專家表示，在不確定性之際，投資者可能會轉向新加坡等避險區域。
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）專家表示，新美國關稅和移民政策所引發的通脹不確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.
摩根士丹利的專家表示，美國新共和黨政府的政策轉變可能會對包括新加坡在內的全球市場產生廣泛影響。
Although the policy direction seems settled, uncertainty about the timing and details of these measures – critical factors for investment decisions – could reshape market expectations.
儘管政策方向似乎已定，但對這些措施的時間和細節的不確定性 —— 是影響投資決策的關鍵因素 —— 可能重新塑造市場預期。
Potential inflationary impacts from US tariff and immigration policies are key unknowns, likely contributing to fluctuating interest rate expectations in 2025.
美國關稅和移民政策可能帶來的通貨膨脹影響是關鍵未知因素，可能會導致2025年利率預期的波動。
Amidst this uncertainty, MS investors may shift to defensive equity allocations, increasing their focus on safe havens like Singapore.
在這種不確定性之中，摩根士丹利的投資者可能會轉向防禦性股票配置，增加對新加坡等避險區域的關注。
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.
除了美國的影響外，摩根士丹利稱新加坡股市有望受益於本地政府爲振興其陷入困境的市場而採取的舉措。
"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.
「政治意願的增強以及市場預期的低迷相結合，進一步強化了我們的信念，即即使細節尚未敲定，即將推出的舉措也可能產生重大積極影響，」 摩根士丹利表示。
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."
根據專家的說法，"新措施可能旨在通過注入資本來增強股票交易流動性，潛在地提高估值倍數達到20%，並縮小與全球基準的差距。"
MS predicts 2025 will be another "fruitful" year for Singapore, despite challenges in the regional market.
摩根士丹利預測2025年將是新加坡另一個"豐收"的一年，儘管區域型市場存在挑戰。
The re-rating of below-trend valuation multiples, driven by market reforms and reversing fund outflows, is expected to underpin this growth.
以下趨勢估值倍數的重新評定，受市場改革和基金流出逆轉的推動，有望支撐這種增長。