Broker Name: iFAST Financial Pte Ltd
Date of Report: 29 Apr 2026
Excerpt from iFAST Financial Pte Ltd report.
Report Summary
- Actionable Call: Underweight US equities due to high valuations (S&P 500 at 20.9x forward earnings vs. Asia ex-Japan at 12.2x). Recommend tilting portfolios toward Asian markets, specifically Singapore, Taiwan, South Korea, Malaysia, China, and Japan.
- Key Investment Ideas:
- Maintain exposure to US tech—digital economy (AI, cloud) remains attractive, but broader S&P 500 is expensive.
- South Korea: Semiconductor sector (AI-driven supercycle) offers strong earnings and reasonable valuations—consider SK Hynix and related ETFs.
- Taiwan: TSMC benefits from agentic AI trends; strong earnings growth and raised 2026 outlook above 30% YoY.
- Singapore: Equity market revival; STI Index supported by resilient banks/REITs, attractive 4-5% dividend yield. Consider LionGlobal Singapore STI ETF (SGX:G3B).
- Malaysia: Upgraded 2026 GDP outlook, broadening market momentum, and attractive valuations after last year’s sell-off.
- Japan: Ongoing corporate reforms and structural sector growth (semiconductors, capital equipment).
- China: Near-term volatility but positioned for earnings recovery; energy risks manageable and price competition easing.
- Recommended Products (selected ETFs/Funds):
- Japan: Xtrackers Nikkei 225 UCITS ETF 1D (LSE: XDJP)
- Singapore: LionGlobal Singapore STI ETF (SGX:G3B)
- Malaysia: iShares MSCI Malaysia ETF (NYSE:EWM)
- China: iShares Hang Seng Tech ETF (HKEX:3067)
- South Korea: Franklin FTSE South Korea ETF (NYSE: FLKR)
- Taiwan: Franklin FTSE Taiwan ETF (NYSE: FLTW)
- Asian Semiconductors: Global X Asia Semiconductor ETF (HKEX:3119)
- Sector to Avoid: US Consumer Discretionary due to weak sentiment, high inflation expectations, and eroding purchasing power.
Above is an excerpt from a report by iFAST Financial Pte Ltd. Clients of iFAST Financial Pte Ltd can be the first to access the full report from the iFAST Financial Pte Ltd website : https://secure.fundsupermart.com/fsmone
