A stellar year for US stocks
US stocks beat expectations and notched multiple record highs in 2025, overcoming the odds amid a slowing economy and an increasingly squeezed consumer base. Will this trend hold next year?
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US stocks beat expectations and notched multiple record highs in 2025, overcoming the odds amid a slowing economy and an increasingly squeezed consumer base. Will this trend hold next year?

As we extend our wishes for prosperity this New Year, we evaluate major economic and social trends in the region in our newest China and ASEAN Quarterly magazine.

As far as high-tech manufacturing is concerned, China wants to build a one-way street: it seeks self-sufficiency in semiconductors while maintaining its position as a major global exporter.

China is pouring substantial resources to modernise its military as it builds up its geopolitical might and economic influence in the world stage.

What awaits the Chinese economy this new year amid wobbly domestic consumption and a highly uncertain global market?

Thailand’s February election concluded with the landslide victory of Bhumjaithai party led by Prime Minister Anutin Charnvirakul. It is now up to him to steer the Thai economy towards stability.

Malaysia is looking to be a bigger supplier of rare earth minerals globally as it presents itself as an alternative to China. The challenge is to sustain the momentum.

The Philippine central bank slashed interest rates from 6.5 per cent to 4.25 per cent over the past two years to spur economic activity, but it cannot do the heavy lifting by itself.

MSCI’s recent announcement of a possible downgrade for Indonesia has triggered capital flight as investors grew instantly nervous. The government has so far acknowledged the warning with reform proposals, but whether it works or not is the question they must face.

Southeast Asian economies are riding high on rapid growth but have yet to unlock a stronger rally in share prices with only a limited lift from artificial intelligence.










