ASEAN Speaks

This week, our Host, Thilan Wickramasinghe opens to a market still struggling after a few volatile weeks, with mega-cap earnings adding to the uncertainty and President Trump threatening to bomb Iran again, keeping oil prices in focus. Against this backdrop, the team looks at why Singapore’s September inflation unexpectedly cooled, and where value is emerging. The show leads with Thilan’s preview...

This week, our Host, Seng Yeow opens to a bruising week for tech, with the Nasdaq down 4.5% and the Philadelphia Semiconductor Index losing more than 11% as investors question the returns on AI infrastructure spending, while CoreWeave’s 2032 bonds trading near 82 cents on the dollar flagged stress in credit markets. Against this backdrop, the team asks whether Singapore banks are oversold and how...

This week, our Host, Seng Yeow opens to a sharp reminder of how sensitive the AI trade has become, with OpenAI disclosing September annualised revenue approaching US$50bn rather than the US$70bn previously indicated, sending Nvidia, Oracle and major semiconductor names down 3-5% intraday. Against this backdrop, the team asks what it means for Singapore and the wider AI value chain, as the local ec...

This week, our Host, Thilan Wickramasinghe opens to renewed bond weakness and rising oil, with President Trump rejecting Iran's Straits of Hormuz offer and higher energy costs feeding through to Singapore's inflation prints. Against this backdrop, the team hunts for winners from the higher-rate environment across the region. The show leads with Singapore macro, where August core inflation...

This week, our Host, Thilan Wickramasinghe opens to a broadly positive risk backdrop, with a "very successful" US-China meeting ahead of next week's Trump-Xi summit lifting Asian equities and Wall Street futures. Against this backdrop, the team hunts for structural winners in Singapore and the region. The show leads with our REITs Analyst Miaomiao Liu, fresh back from visiting Sasseu...

This week, our Host, Thilan Wickramasinghe opens to mounting AI and geopolitical risk, with a slew of AI founders warning on the need to slow model development stoking fears over AI spending, while intensifying Middle East tensions push oil another leg higher. Against this backdrop, the team hunts for risk-reward across ASEAN. The show leads with our Strategist Anand's latest ASEAN strategy, where...

This week, our Host, Thilan Wickramasinghe opens to rising geopolitical and inflation risk, with US-Iran attacks in the Straits of Hormuz prompting Goldman to flag possible USD120 oil, alongside a stronger US jobs print stoking Fed rate hike odds. Against this backdrop, the team hunts for structural winners in Singapore. The show leads with our Bank's Analyst Desmond Ch'ng's roundup of...

In this episode, host Thilan Wickramasinghe previews a cautious start to markets, with Asian sentiment weighed down by hawkish weekend comments from Fed Chair Kevin Warsh that have lifted bets on a rate hike next month, alongside fresh Middle East tensions after new US strikes on Iran. Singapore bucks the trend, however, with the STI in the green; softer manufacturing numbers mask underlying stren...

In this episode, host Thilan Wickramasinghe previews a pivotal week for markets, with investors watching Fed Chair Kevin Warsh's Jackson Hole remarks for clues on rates, elevated oil prices, multi-decade-high bond yields, and Nvidia's results for signs the AI rally can extend. At home, Singapore's macro readings stay strong, with the construction pipeline getting a further boost from t...

In this episode, host Thilan Wickramasinghe discusses soft US economic data, a weaker US dollar and Maybank Research’s upgraded Singapore growth outlook. Singapore’s 2026 GDP growth forecast has been raised to 5.2%, supported by AI manufacturing, electronics and precision engineering. This growth is also feeding through to corporate earnings. Krishna reviews the industrial sector’s mixed first-hal...

In this episode, host Thilan Wickramasinghe returns after the National Day long weekend to discuss rising US-Iran tensions, safe-haven flows into Singapore and the outlook for local markets. He reviews the Singapore banks’ 2Q results, highlighting the growing contribution from wealth management and trading as lower rates weigh on net interest income, and explains why OCBC remains the team’s top pi...

In this episode, our host Thilan Wickramasinghe opens with sentiment across markets stabilising somewhat, as oil prices fall and treasuries rise following news that fresh US-Iran talks would begin today. Here in Singapore, the STI trades in the red, weighed down by weaker banks ahead of results later this week. With the local results season unfolding, the focus turns to domestic stocks, starting w...

In this episode, our host, Seng Yeow, opens with one of the biggest market events in Asia this week – the blockbuster IPO of Chinese DRAM maker, CXMT. Following its explosive Shanghai debut, he speaks with Hong Kong Strategist, Ben Ho, on why the listing could set the tone for regional technology stocks, how CXMT compares with global memory leaders and what its rapid rise means for the outlook of...

In this episode, our host, Seng Yeow, discusses the contradiction at the heart of last week's markets: strong TSMC earnings met with a sharp sell-off in semiconductor stocks, even as the S&P 500 broadened with record highs in financials and transports. He examines what this divergence signals about the AI semiconductor trade and the wider economy. We begin with our Hong Kong strategist, Be...

In this episode, our host and Head of Research, Thilan Wickramasinghe, shares Maybank's latest outlook for the Singapore market, explaining why the team continues to see upside for the Straits Times Index despite recent earnings downgrades. He discusses how easing energy prices, improving market liquidity, the expected deployment of institutional funds under the Equity Market Development Progr...

In this episode, our host and Head of Research, Thilan Wickramasinghe, discusses how easing tensions between the US and Iran are helping stabilise global markets, even as concerns over AI valuations continue to weigh on Asian equities. He explores why Singapore's resilient macroeconomic outlook continues to stand out, supported by stronger-than-expected growth, benign inflation and improving d...

In this episode, our host Seng Yeow, explores whether global markets are entering a new monetary regime as investors reassess the outlook for interest rates, political risk and the growing role of artificial intelligence in corporate strategy. We begin with US and Asian fixed income markets, where our Head of Fixed Income, Winson Phoon, discusses whether the era of easy money has come to an end fo...

In this episode, our host and Head of Research, Thilan Wickramasinghe, discusses how optimism surrounding a US-Iran peace deal and the reopening of the Straits of Hormuz is easing inflation concerns and supporting risk assets globally. With oil prices falling and central bank pressures easing, he highlights why Singapore markets could be a key beneficiary, supported by strong liquidity, AI-driven...

With China and the US taking two fundamentally different approaches towards developing their AI ecosystems, there is a growing camp that believes that China is in an equally strong position to win the AI race despite technology sanctions. Producer and host Ong Seng Yeow speaks with Maybank's Hong Kong Strategist Ben Ho to deep dive on three key issues: ​Why might China be playing a fundamentally d...

In this episode, our host and Head of Research, Thilan Wickramasinghe, discusses how weakness in US technology stocks, renewed Middle East tensions and rising oil prices are driving investors to reassess regional positioning. As global uncertainty increases, the focus shifts towards domestic growth drivers and markets that can better withstand external volatility. We begin with our Regional Head o...

In this episode, our host and Head of Research, Thilan Wickramasinghe, discusses how improving sentiment surrounding a potential US-Iran agreement to reopen the Straits of Hormuz is lifting regional equities and easing pressure on crude oil prices. Against this backdrop, Singapore’s April NODX numbers reached a 14-year high, reinforcing the view that AI and oil-related activity remain two major dr...

In this episode, our host Ong Seng Yeow, discusses how renewed safe haven demand and shifting global capital flows are influencing Asian markets, even as Singapore corporates continue delivering resilient earnings and strategic growth ambitions. He examines what recent market movements suggest about investor positioning, whether inflows into defensive assets are likely to persist, and the implicat...

In this episode, our host and Head of Research, Thilan Wickramasinghe, discusses how renewed uncertainty surrounding US-Iran peace negotiations is weighing on global sentiment, even as Singapore’s 1Q results season continues to point toward resilient corporate fundamentals and strong earnings expectations. He outlines the key themes emerging across the banking sector, including rising contribution...

In this episode, our host and Head of Research, Thilan Wickramasinghe, discusses how improving sentiment following US efforts to reopen the Straits of Hormuz is easing oil concerns and supporting markets. Commodities remain in focus, alongside key opportunities emerging across banks, healthcare and internet platforms. We begin with our Telco & Internet Analyst, Hussaini Saifee, who introduces...

In this episode, our host and Head of Research, Thilan Wickramasinghe, discusses how improving sentiment following reports of a potential reopening of the Straits of Hormuz is supporting markets as Singapore’s 1Q results season begins. He outlines what to expect for the banking sector, where earnings momentum may be mixed but supported by wealth fees, trading income and safe-haven inflows. We begi...