大华银行（UOB）：2025年市场展望报告-在动态环境中把握市场趋势（英文版）（26页）.pdf

1、Navigate market currents in dynamic conditions2025 Market OutlookCreditsManaging EditorWinston Lim,CFASingapore and Regional Head,Deposits and Wealth Management,Personal Financial ServicesEditorial TeamAbel LimHead of Wealth Management Advisory and Strategy,Deposits and Wealth Management,Personal Fi

2、nancial ServicesTan Jian HuiWealth Management Advisory,Deposits and Wealth Management,Personal Financial ServicesLow Xian LiWealth Management Advisory,Deposits and Wealth Management,Personal Financial ServicesZack TangWealth Management Advisory,Deposits and Wealth Management,Personal Financial Servi

3、ces2Overview2025 OutlookKey TopicsWhat You Can DoForeword4Key Considerations and Strategy52025 OutlookEconomic Outlook7Country Focus10Asset Class Views13Key TopicsTopic 1:The economic and market impact of President-elect Trumps policies16Topic 2:How to approach Asian stock investments in 2025?18Topi

4、c 3:Build income portfolio beyond cash or fixed deposits20What You Can DoBuilding Your Portfolio23Core Allocation23Tactical Allocation24Contents3Overview2025 OutlookKey TopicsWhat You Can DoAs we enter 2025,we expect significant changes in global dynamics,especially with the return of United States(

5、US)President-elect Donald Trump to the White House.This transition in leadership is expected to result in shifts to both domestic and foreign policies.The administrations decisions and policy implementations will undoubtedly influence the economic and financial outlook.This offers both opportunities

6、 and challenges.An economic growth divergence may emerge this year.While policies that support growth are likely to benefit the US economy,potential trade disputes could be a challenge for countries dependent on exports.Inflation has also continued to slow down over the past year,lowering costs for