To The Moon

Following a strong run, Singapore equities have come under pressure amid a broader global market pullback. With Singapore bank stocks leading the decline, investors are asking whether this is a healthy correction or the start of a more prolonged downturn. We sat down with our portfolio manager to discuss what's behind the recent pullback and what investors should watch next. 1. What is driving the recent sell-off in Singapore equities? We view the recent sell-off primarily as part of a broader global risk-off move rather than a reflection of deteriorating Singapore fundamentals. Rising US Treasury yields and higher oil prices have renewed inflation concerns, prompting investors globally to reduce risk exposure. In Singapore, the pullback has been amplified by the STI’s heavy weighting towa

UOBAM Ping An FTSE ASEAN Dividend Index ETF: $UOBAM PA FT ASEAN DV S$(UPD.SI)$ $UOBAM PA FT ASEAN DV US$(UPU.SI)$ United Asia Fund: $UNITED ASIA "A" (SGD) INC(SGXZ90724238.SGD)$ $UNITED ASIA "A" (SGD) ACC(SG9999001051.SGD)$ United Greater China Fund: $UNITED GREATER CHINA "A" (SGD) ACC(SG9999001093.SGD)$ The first article in our Asia series, this piece sets out the case for a strategic allocation to Asia, exploring the market and macroeconomic factors that make the region attractive today. For much of the past decade, global inves

The case for staying invested: Growth still outweighs the risks Over the past few months, investors have become increasingly focused on a range of late-cycle risks. Rising bond yields, persistent inflation, fuller capacity utilisation and labour markets with low unemployment rates have all contributed to concerns that the current economic expansion is operating under late cycle conditions. As a long-term investor, these are risks that I continue to monitor closely. Yet, despite an increasingly complex backdrop, the global economy continues to demonstrate remarkable resilience. Growth remains broadly supported across major regions, corporate earnings continue to exceed expectations, and business investment remains healthy. While the current environment exhibits several late-cycle characteri

UOBAM’s Strategy Group sees more scope for risk-taking as US-Iran tensions cool and market focus shifts back to company fundamentals. US and Iran step away from the brink While the outcome of the US-Iran war remains difficult to predict, it does appear that international attempts to lower the temperature in the Middle East are paying off. The two-week US-Iran ceasefire announced on 8 April has now been extended indefinitely, and the Israel-Lebanon ceasefire which was set to expire last Sunday has also been extended by three weeks.  This de-escalation had already been anticipated by global stock markets. Almost all major indices bottomed at the end of March and have trended higher through April despite elevated oil prices. Korea and Taiwan are currently leading gains, while Japan and t

$UNITED SGD "A" (SGD) INC(SG9999010805)$ $UNITED SINGAPORE BOND "A" (SGD) ACC(SG9999003412)$ $UNITED SINGAPORE BOND "A" (SGD) INC(SGXZ36402089)$ Supported by a stronger SGD, safe haven demand, and a resilient rates backdrop, Singapore bonds are well‑placed to hold up better than global bond markets in the months ahead. The war in Iran has pushed global oil prices above US$100 per barrel multiple times since March, roiling energy markets and raising global inflation risks. As a small, open economy that imports almost all of its energy needs, Singapore is especially exposed. Higher energy prices tend to filter quickly into Singapore

$UNITED SGD "A" (SGD) INC(SG9999010805)$ As the US–Israeli war on Iran enters its third week, volatility across global bond markets has intensified. Since the outbreak of hostilities on 28 February 2026, the two‑year US Treasury yield has climbed from 3.4 percent to 3.7 percent, while the 10‑year yield has risen from 4.0 percent to nearly 4.3 percent [1]. These moves reflect growing concerns that higher energy prices could fuel renewed inflation and lead major central banks to adopt a more hawkish policy stance. As a result, global bond prices have declined, and wider market sentiment has turned more cautious. Impact on Asia credit markets Credit markets in Asia have also been impacted. Asia relies heavily on Middle Eastern energy, sour

Units traded in SGD: $UOBAM Ping An FTSE ASEAN Dividend Index ETF(UPD.SI)$ Units traded in USD: $UOBAM PA FT ASEAN DV US$(UPU.SI)$ Having explored the ETF’s top five holdings in our earlier article, we now shift our focus to its next five largest constituents, representing leading companies across Malaysia, Thailand and Indonesia. It is said that the Year of the Horse ushers in wealth, drive and fresh opportunities. As investors look to build prosperity in the months ahead, dividend strategies, with their emphasis on stable, recurring income, offer a strong foundation for long term wealth building. In the second part of our series on the UOBAM Ping An FTSE ASEAN Dividend Index ETF (SGX: UPD, UPU) (th

Units traded in SGD: $UOBAM Ping An FTSE ASEAN Dividend Index ETF(UPD.SI)$ Units traded in USD: $UOBAM PA FT ASEAN DV US$(UPU.SI)$ In the first of our two-part series exploring the companies powering the UOBAM Ping An FTSE ASEAN Dividend Index ETF, we take a closer look at its top five holdings. In Part 2, we’ll dive into the next five holdings, which span banking, telecommunications, energy and automobiles. Spotlight on ASEAN Tech and software stocks have faced heightened volatility in recent weeks on concerns over soaring AI spending and the growing risk of AI-fuelled disruption. As markets churn, investors seeking stability are increasingly turning to lower-volatility sectors and companies less exp

Thailand heads to the polls this Sunday, 8 February 2026, at a time of heightened political and economic strain. The snap election follows Prime Minister Anutin Charnvirakul’s decision to dissolve parliament in mid-December, after the People’s Party signalled a no‑confidence motion that threatened to topple his minority government. Politically, Thailand has cycled through 10 prime ministers in the past two decades. This frequent turnover has contributed to delays in budget approvals and hampered long-term policy planning. On the economic front, the country is expected to be the slowest-growing major economy in Southeast Asia outside of Myanmar this year, with the International Monetary Fund (IMF) forecasting GDP growth of just 1.6 percent in 2026. Domestic consumption is weakening, constra

Units traded in SGD: $UOBAM Ping An FTSE ASEAN Dividend Index ETF(UPD.SI)$ Units traded in USD: $UOBAM PA FT ASEAN DV US$(UPU.SI)$ In an increasingly uncertain world, dividend-paying stocks are gaining traction as a way for investors to keep their portfolios steady while still earning reliable income. Reflecting this demand, global ETF assets tracking dividend strategies reached an all‑time high in 2025. Why dividend stocks? Companies that pay consistent dividends tend to have durable business models, stable cash-flow generation, and strong balance sheets. These qualities typically help companies stay resilient during periods of market stress. At the same time, such companies are often able to grow th