- US and Israel launched strikes on Iran over the weekend, prompting Iran to retaliate against Israel and US military sites across the Middle East. Singapore equities opened the week in the red, with the Straits Times Index (STI) and iEdge Singapore Next 50 Index (SGN50) losing 2.1% and 1.9% on Monday, respectively.
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- We maintain our Overweight position on Singapore equities, and believe Singapore’s safe haven status will continue to attract an inflow of funds amid geopolitical tensions.
Aerospace
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Middle East tensions primarily impact the global economy through oil market shocks.
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