Daily Debrief: What Happened Today (Sep 21)

Singapore's Ministry of Manpower reported that retrenchments in Q2 2026 increased more than initially estimated, despite a lower proportion of laid-off residents securing new jobs. Dr Li Xiaowei, deputy general manager and chief investment officer at Fullgoal Fund Management, emphasized the need for Singapore to attract a greater number of diverse, high-growth companies to list in the country, in order to reduce the dominance of large-cap companies on the bourse.

He suggested that providing unique investment opportunities distinct from those offered in ASEAN and China would be beneficial in attracting more Chinese investors.

The Trump-Xi summit, scheduled for September 24, will mark the second meeting between US President Donald Trump and Chinese President Xi Jinping this year. Although this represents a more frequent pace of summitry in a relationship that is typically marked by tension rather than dialogue, it is primarily intended to serve as a maintenance check rather than a potential breakthrough.

The Singapore Business Federation launched a new diagnostic tool to assist firms in evaluating their future readiness, identifying capability gaps, and prioritizing transformation efforts. Meanwhile, Suntec Real Estate Investment Trust announced its strategic shift towards increasing its focus on Singapore assets while reducing its exposure to overseas markets, beginning with Australia, as part of its strategic review.

Global asset owners are increasingly turning to cash, infrastructure, and emerging markets in response to global volatility. According to the 2026 Global Asset Owner Barometer survey conducted by Marsh, geopolitical risks continue to pose a significant challenge for these investors. Lastly, the Decoding Asia newsletter highlighted that while Chong Chong, Mixue, and Luckin have secured prominent roles in Southeast Asia, the challenge of sustaining their success remains a daunting task.