SINGAPORE: In the aftermath of the 2024 US elections, Singaporean investors are expected to increase their portfolio allocation to the US market, with the share rising from 19% to 22%, according to a new survey by MDRi and reported by the Singapore Business Review.
Ramping up investments in the US
The data reveals that 18% of Singapore’s investors plan to ramp up their investments in the US market, with the key drivers being anticipated changes in interest rates (58%) and economic policies (55%).
Notably, international relations are less of a concern for Singaporean investors than for their Hong Kong counterparts, who place a stronger emphasis on geopolitical dynamics.
Singaporean investors allocate a significant portion of their portfolios to the local market, with 60% invested in domestic assets, while the US market currently holds a 19% share.
Despite the positive outlook for US investments, Singaporeans remain mindful of global tensions, particularly the US-China relationship.
Nearly half (46%) of respondents expressed concerns that the diplomatic rift between the US and China could worsen under a potential second term for former President Donald Trump.
The survey also highlighted a generational divide, with older Singaporeans (aged 45 and above) showing more apprehension about the US-China relationship, with 53% expressing concern, compared to the overall national average of 46%.
The MDRi survey, which included 1,000 participants—half from Singapore and half from Hong Kong—aimed to ensure a balanced representation of investor sentiment across both regions.
Singapore and Sweden
In a related venture development, Singapore’s Energy Market Authority (EMA) and Sweden’s Ministry of Climate and Enterprise have formalized a groundbreaking partnership aimed at advancing regional energy interconnectivity and the development of cutting-edge clean energy technologies.
In a joint statement, the EMA announced the signing of a memorandum of understanding (MoU) that will focus on enhancing High Voltage Direct Current (HVDC) technologies and transmission infrastructure, including the installation of subsea cables.
The collaboration is set to play a key role in the rollout of the ASEAN Power Grid and will support multilateral and multidirectional electricity trading across Southeast Asia.
The partnership will also facilitate the exchange of knowledge on key areas such as regional energy interconnectivity, ammonia and hydrogen development, and nuclear safety.
Additionally, both nations will collaborate within international forums to accelerate Singapore’s decarbonization efforts, paving the way for a cleaner, more sustainable future.