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，在不確定性中，投資者可能會轉向新加坡等安全避風港。
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）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調整可能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.
雖然政策方向似乎已確定，但對這些措施的時間和細節的不確定性——這是投資決策的關鍵因素——可能會重新塑造市場預期。
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潛在通脹影響是關鍵未知數，可能導致2025年利率預期波動。
Amidst this uncertainty, MS investors may shift to defensive equity allocations, increasing their focus on safe havens like Singapore.
在這種不確定性中，摩根士丹利的投資者可能會轉向防禦型股票配置，增加對新加坡等安全避風港的關注。
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，摩根士丹利表示，新加坡的股市也有望從當地政府振興其疲軟市場的舉措中受益。
"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：「更強的政治意願和低市場預期的結合加強了我們對即將出台的舉措將產生顯著積極影響的信念，即使細節尚未最終確定。」
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."
專家表示：「新的措施可能旨在通過資本注入增強股票交易流動性，可能將估值倍數提高至20%，並縮小與全球貨幣基準之間的差距。」
MS predicts 2025 will be another "fruitful" year for Singapore, despite challenges in the regional market.
摩根士丹利預測，儘管區域型市場面臨挑戰，2025年將是新加坡的又一個「豐收」年。
The re-rating of below-trend valuation multiples, driven by market reforms and reversing fund outflows, is expected to underpin this growth.
市場改革和逆轉基金流出所推動的低趨勢估值倍數的重新評級，預計將支撐這一增長。
譯文內容由第三人軟體翻譯。
