2024 Market Outlook



Rethinking the macro landscape

Reframing globalisation

Redefining sustainability

Investment implications



Asset class/Strategy

GEM equities India equities ASEAN equities

Capitalise on the supply chain shifts

Diversification will favour countries that have a geographical advantage, cheaper labour, larger domestic economies, and abundant natural resources.

Ride the Generative AI wave in Asia

Generative AI’s demand for improved memory chips will benefit Asia’s semiconductor players. It will also boost innovative Asian tech-related companies.

Tech and tech-related Asian equities

China A and H equities

Sentiment towards China is very bearish; valuations of China equities are below long-term average and attractive. China continues to rebalance its economy towards consumption and services.

Position for further upside to China’s policy stimulus

Contributors --------------- Samuel Bentley, Bryan Yeong, Dalphin Hou, Michelle Qi, Ngo The Trieu, Weng Jingjing, Paul Kim, Eric Yao, Kevin Liu, Tsai Yuan Yiu, Doreen Choo, Bodin Buddhain, Liew Kong Qian.

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