Dear all

It has been some time since I last wrote an article on market outlook. I have been extremely busy for the past three months where I have been meeting companies and other associates. (Check out my LinkedIn HERE). I have also just arranged an exclusive meetup with Lendlease Reit Manager CEO, Kelvin Chow and Head of Investor Relations, Ling Bee Lin with my clients last Friday. (Click HERE). As of last Friday, Lendlease Reit’s market capitalisation is around S$1.16b.

With reference to Chart 1 below, October continues to see the third monthly outflows of funds from China equity markets. CSI 300 is down approximately 10% year-to-date (“YTD”). This positions CSI 300 to a third consecutive year of losses, a record so far if it materialises.

Elsewhere, markets are not much better. Hang Seng closed at 17,172 on 20 Oct 2023, down 13% YTD. This is the lowest close since