JPMorgan: Singapore's budget is expected to benefit the stock market

Glonghui, February 13th｜JPMorgan Securities maintained its positive outlook on the Singapore stock market after the country announced its annual budget plan. The government will inject an additional 1.5 billion Singapore dollars into the Financial Sector Development Fund. The bank pointed out that the government has also raised its estimated surplus for the 2025 fiscal year to more than double the previous forecast. Growth in the private sector is expected to be driven by a better-than-expected fiscal buffer and a strong macroeconomic backdrop. “We believe these favorable factors, in addition to the extended support from financial markets, should drive the Singapore stock market close to our target of 6,000 points,” analysts wrote in a report.