To The Moon

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

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)$ The Greenland crisis seems to have eased for now, but geopolitical uncertainties remain. ASEAN offers investors a relative oasis of calm in these unsettled times. 2025: Positive growth despite tariffs When President Trump announced that ASEAN markets like Vietnam, Thailand and Indonesia would be subject to reciprocal tariffs, many feared that the impact to the region could be significant. Indeed, having benefitted from trade front-loading in the first half of 2025, growth momentum weakened in 3Q25. However, the latest data emerging suggests that most markets in ASEAN ended

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)$ Investors in Singapore don’t have to look far for income opportunities. The Singapore Exchange (SGX) is home to a wide range of dividend-paying ETFs covering assets such as bonds, real estate investment trusts (REITs) and dividend-paying stocks. Whether you’re looking for stability, higher yields, or long‑term growth, there’s likely an ETF listed on the SGX that matches what you need. This variety is important because income investing isn’t one‑size‑fits‑all. Each asset class behaves differently, especially across different interest rate environments and market cycles. Wh

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)$ At the start of 2025, you could still turn to six-month Singapore Treasury bills (T-bills) for relatively high yields of 3 percent with minimal risk. But as interest rates declined over the year, T-bill yields came down too, ending at just 1.6 percent as of 31 December 2025. This sharp drop has prompted many investors to look beyond cash‑like instruments for better income opportunities. If you’re reluctant to settle for lower yields and are open to take on modest additional risk, dividend-paying stocks offer an attractive middle ground. They provide a meaningful step-up i

Global markets enter 2026 on a stronger footing as 2025's trade-related risks recede and policy support gains momentum. Fiscal incentives and continued rate cuts in the US are expected to underpin growth, while corporate earnings remain robust across major regions. Against this backdrop, UOBAM’s investment managers have shifted to a slightly more constructive stance. Equities move to a mild overweight, focused on Asia and US, while fixed income stays neutral. Gold remains compelling as a safe-haven asset but cash is underweighted as lower yields make risk assets more attractive. We think diversification remains key, but with headwinds turning into tailwinds, the outlook for 2026 is increasingly optimistic. Hear from UOBAM’s Head of Multi-Asset Strategy, Anthony Raza Summary of UOB Asset Ma

2025 was a year of intriguing opportunities but also unprecedented global trade uncertainties. We think that this year’s headwinds will turn into next year’s tailwinds, and an environment of investor optimism will start to shine through. 2025: Non-US markets stepped up We started 2025 with a call to overweight equities, and investors who managed to hold for the full year have been well rewarded. Many major indices, including the US’s S&P 500, Germany’s DAX, China’s CSI 300 and Singapore’s STI are up by 15 – 20 percent so far this year. That said, markets were unsettled over the course of the year. While many of us expected President Trump to intensify trade tensions in his second term of office, sky-high tariff threats, policy flip-flops and mounting US debt levels did much to sour inv

Markets initially rallied following Nvidia’s earning report, but has since lost momentum We think that AI bubble conditions are forming, but a peak is not yet in sight Investors should regard AI rallies as opportunities to diversify further Better than expected results In an earnings report that has rarely been as eagerly or widely awaited, Nvidia announced on Wednesday night that its earnings were significantly up compared to the same period last year. The company’s 3Q revenues and net profits increased by 62 percent and 65 percent respectively, and 4Q sales are forecast to reach around US$65 billion. These results beat analyst forecasts and having faltered in previous days, markets initially responded positively. However, the relief rally soon lost momentum. Japan’s Nikkei 225 and South

$UNITED GLOBAL DURABLE EQUITIES (SGD) INC(SG9999014013)$ | $UNITED GLOBAL DURABLE EQUITIES (USD) INC(SG9999014039)$ With Nvidia stocks up an astounding 1,240 percent over the past five years, the current AI boom is displaying signs of “irrational exuberance”. So it is important to learn from history and ask: are we in an AI bubble and how close are we to the end? Learning from history In terms of tech-driven investor excitement, the 2020s has all the hallmarks of the 1990s. Back then, investors couldn’t get enough of internet stocks and from 1995 – 2000, drove the NASDAQ Composite index up by over 400 percent. Notably, the market remained buoyant even after warnings about overstretch

Vietnam is set to be upgraded to Emerging Market status by FTSE Russell, effective September 2026 This could unlock potential foreign inflows of up to US$10 billion Vietnam’s stock market is up more than 30 percent YTD, and there remains scope for sustained market development Aligned with Asian peers Vietnam’s long-awaited reclassification from Frontier to Emerging Market status by FTSE Russell marks a major milestone in the country’s capital market development. Having been on FTSE’s watchlist since 2018, this upgrade puts Vietnam in the same market category as China, India, and Indonesia, thereby enhancing its visibility and appeal to global investors. We expect this promotion to unlock substantial foreign investment, particularly from passive funds that were previously restricted from ac