EWS Overview

Prime Minister's Concerns: Singapore's prime minister expresses worries about the country's future and economic stability.

Investor Sentiment: Despite the prime minister's concerns, current investor sentiment remains positive and unaffected.

Apollo Global Management's New Role: Apollo Global Management has been appointed to manage Singapore's $1 billion Private Credit Growth Fund, which aims to provide customized financing for high-growth local enterprises.

Objective of the Fund: The fund, introduced by the Ministry for Trade and Industry and Enterprise Singapore, is part of Singapore's strategy to enhance its presence in the expanding private debt market, with more details expected by the third quarter.

Chinese Equities Performance: Chinese equities are currently the most overbought globally, showing an increase of 19.9% from their 200-day moving average in U.S. dollar terms.

Research Source: This information is derived from a global research note by BofA Securities.

Incident Overview: A Vietnamese woman reported being robbed and sexually assaulted during a Grab ride in the Philippines, leading to an investigation by authorities and potential suspension of the ride-hailing service for negligence.

Company Response: Grab Holdings has committed to cooperating with the investigation, banned the involved driver from its platform, and reiterated its zero-tolerance policy towards misconduct while also facing a decline in stock value.