DBS: Overweight on US stocks and Asian (excluding Japan) stocks in the next 3-12 months

DBS indicated that the global tactical asset allocation (TAA) for the next 3 months and 12 months will focus on holding US stocks and Asian (excluding Japan) stocks. It is neutral on Japanese stocks and has a lower preference for European stocks. DBS believes that a rate cut is expected in the US, global supply chain pressures are easing, the US economy is robust, inflation remains high, and the stock market will continue to strengthen. The Chinese stock market is leading, with good prospects for corporate earnings, and investors anticipate that the most severe impact of tightening policies is now in the past. There is further room for growth in the Chinese stock market