Global Market View: China's GDP Target, US Tariffs, and Singapore Stocks

Global Market Performance

• 📈 Singapore shares were higher, with the Straits Times Index (STI) closing up 0.2% at 3,898 points, influenced by global developments.
• 💰 Value turnover reached S$1.43 billion, with gainers outnumbering losers (338 vs. 205).
• 🌍 Markets are digesting global events, including US President Donald Trump's address to Congress and China's GDP growth target.

Key Company Developments

• 🚀 The Singapore Exchange (SGX) launched its second batch of Hong Kong-Singapore Depository Receipts (SDRs) in partnership with Phillip Securities, aiming to boost activity and allow local traders to capitalize on the bullish Hong Kong market.
• ⚠️ City Developments Limited (CDL) saw its share price react to corporate governance concerns, with an initial negative impact followed by recovery after an independent adviser's resignation.
• ⚖️ Lingering corporate governance issues can negatively impact shareholder value and lead to significant share price drops.

China's Economic Outlook

• 🎯 China maintained its 2025 GDP growth target at 5% for the third consecutive year, despite external challenges like US tariffs.
• 📊 To achieve this, China increased its budget deficit to 4% of GDP, the highest in decades, signaling a need for more fiscal stimulus measures.
• 💡 The government's annual work report emphasized boosting consumption, mentioning it 27 times, indicating a shift in focus to counter deflationary risks over