Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Thailand Inflation Remains Negative for 10th Straight Month in January 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
Economic Growth Projections for 2024
On Monday, the Monetary Authority of Singapore (MAS) announced that it expects the country's gross domestic product (GDP) growth to land at the upper end of its 2%-3% forecast range for 2024. This positive outlook is supported by robust economic performance in the third quarter of 2023.
Strengthening Economic Indicators
According to the MAS's latest macroeconomic review, the third quarter saw a significant strengthening in economic growth, attributed to a recovery in the manufacturing sector, increased trading activities in finance, and a resurgence of Chinese tourists following a visa exemption introduced in February. Preliminary data indicates that Q3 GDP rose by 4.1% year-on-year, building on a 2.7% growth recorded in Q2.
Potential Risks Ahead
However, the MAS cautioned that 2025 may pose challenges for Singapore's trade-dependent economy. Heightened global uncertainties, including the outcome of the upcoming U.S. presidential election, escalating geopolitical tensions, and a potential slowdown in China, could adversely impact global trade dynamics. Additionally, the sustainability of the AI-driven global tech cycle recovery remains uncertain.
Inflation Trends and Outlook
Despite a slight rise in annual inflation to 2.8% in September—up from a two-and-a-half-year low of 2.5% in July—the MAS maintains that core inflation is expected to ease to around 2% by the end of the year. The authority anticipates core and headline inflation to average between 1.5% and 2.5% in 2025, suggesting a balanced inflation outlook moving forward.
