Stock Allocation Portfolio Allocation
Transaction Summary for July 2020BOUGHT ISHARES PREFERRED AND INCOME SECURITIES ETFBOUGHT VANGUARD HEALTH CARE ETFSOLD XT CHINA50 US$For the month of July, I had not made any purchase for the Singapore market, and only added ETFs into my satellite portfolio mentioned in my previous post. I also sold one of the Xtrackers ETFs as they are exiting from SGX and will be delisted. STI was down for the month, and the outlook for the economy of Singapore looks bleak. The reason for saying that is due to the recent intervention by MAS. MAS is calling local banks to cap their dividend for the next 12 months to 60% of their distribution in FY19.
I see this as a drastic move, and is essentially raising the alarm for the banks to start preparing for the challenging times ahead. Despite having the confidence in the local banks to not

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