Chinese Markets Struggle; Singapore Upgrades Growth Forecast for 2024

On Friday, November 22, 2024, Chinese markets faced a downturn driven by disappointing tech earnings, while Singapore’s economy showed resilience with an updated growth forecast. The Singaporean economy is now expected to grow by 1-3% in 2025, with the current year’s growth forecast upgraded to around 3.5%.

Meanwhile, market volatility has led to a surge in turnover on the Singapore Exchange (SGX), pushing it to a 17-year peak. This volatility comes as investors continue to navigate global uncertainties and regional economic shifts. In China, the tech sector’s poor performance weighed heavily on market sentiment, contributing to a broader market slump.

As Singapore’s economy shows signs of strength, with higher-than-expected growth for 2024, local markets remain buoyed by higher investor activity despite global challenges. The trading environment continues to reflect a balancing act between short-term volatility and long-term growth prospects.