February 29, 2024

In December, Indonesia’s headline inflation rate was lower than expected at 2.61%, marking a decrease from the month before. The country’s central bank has set an inflation target of 1.5% to 3.5% in 2024. The manufacturing sector in Indonesia expanded for the 28th straight month, indicating continued positive growth.

The Dutch government partially revoked ASML’s export license to China for chip manufacturing equipment. ASML does not expect this to significantly impact its financial outlook for 2023. China’s manufacturing activity showed contradictory results in December, with a private survey indicating expansion and an official report indicating contraction.

Singapore’s GDP expanded by 2.8% in the final quarter of 2023, the fastest growth rate since 2022. In China, factory activity contracted, signaling the need for more policy support. Australia experienced a sharp contraction in factory activity, mainly due to soft economic conditions and high interest rates.

As for investment opportunities, there is growing interest in alternative assets, but investment professionals are cautious about retail investors entering these markets. Goldman Sachs sees promise in European Big Oil, suggesting attractive returns despite a challenging outlook for oil prices in 2024.

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