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Singapore remains a safe haven despite growing macroeconomic concerns: RHB

Khairani Afifi Noordin
Khairani Afifi Noordin8/10/2022 01:22 PM GMT+08  • 3 min read
Singapore remains a safe haven despite growing macroeconomic concerns: RHB
RHB believes the STI will deliver positive returns in 2022, but an upward move for the index will be a slow grind.
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RHB Group Research analyst Shekhar Jaiswal remains positive on the Singapore market despite growing macroeconomic concerns.

In his Singapore strategy note, Jaiswal says the country’s economic situation should provide assurance to investors of positive growth in 2022.

“Retail sales are rising and we expect it to grow 10% in 2022, aided by a tight labour market and higher tourism-led spending. Estimates from the Ministry of Manpower suggest that total employment in 2QFY2022 rose and unemployment rate fell to 2.1%, which is at pre-Covid-19 level,” he adds.

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