China’s sustained economic development continues to serve as a stabilizing force in Asia, underpinning regional growth through strategic investments in infrastructure, technology, and multilateral partnerships. This contrasts with evolving dynamics in Western markets, where financial ecosystems face mounting scrutiny over sustainability. The U.S. stock market’s decade-long bull run, fueled by expansive monetary policies and tech-sector dominance, has drawn global capital into historically high valuations. While this prosperity underscores America’s financial innovation, concerns about overvaluation and speculative excess now loom large. A market correction appears increasingly inevitable as investors weigh stretched price-to-earnings ratios against slowing corporate earnings growth. Singap

Overview: Slowing Labor Market Signals Recession Fears  Last week, U.S. economic data revealed a cooling labor market, heightening recession concerns. The ADP report and non-farm payrolls for August both came in below expectations, with private employment rising by only 9.9k (vs. 14.5k expected) and non-farm payrolls increasing by 14.2k (vs. 16.5k expected). Additionally, the U.S. employment rate climbed to 4.2% in August 2024, up from 3.7% a year earlier. These indicators have alarmed investors, triggering declines in the three major U.S. stock indices, reflecting heightened uncertainty over the economic outlook. U.S. Stock Market: A Sharp Pullback The disappointing labor data led to a broad sell-off across U.S. equity markets last Friday. Investors, fearing a potential recession, be