Media OutReach
KGI: 2025 Mid-Year Market Outlook
Navigating the New Normal
HONG KONG SAR – Media OutReach Newswire – 24 June 2025 – Today, KGI has released its 2025 Mid-Year Market Outlook.
Looking back over the first half of the year, Trump officially took office as President of the United States and started a trade war. At one point, he even threatened to levy tariffs on China of more than 100%, triggering massive market fluctuations. Since then, many countries have entered negotiations with the U.S., and positive signals have emerged. How will the ongoing tariff war affect global economic development? How will the economic uncertainty created by Trump’s policies influence interest rate trends? How will China respond to the increasingly tense trade relationship? And how will China achieve economic growth targets amid external economic instability?
Under this backdrop, for the second half of the year, we maintain the “ACE” strategy：
- Alternatives: Gold and other alternative assets are expected to be inflation-resistant and have lower correlation with traditional stocks and bonds.
- Credit Selection: Maintain a preference for high-grade bonds, as the market still presents opportunities to lock in yields.
- Elite Stocks: Diversify investment in quality stocks, balancing the allocation between cyclical and defensive stocks.
Cusson Leung, Chief Investment Officer at KGI, says: “In terms of asset allocation, considering the economic and political developments in the second half of the year, investors can continue to follow the ACE strategy: A is Alternatives. The fiscal conditions of multiple governments have sparked controversy, coupled with central banks diversifying asset allocations and geopolitical instability, which will be favorable to gold prices. C is Credit Selection. We expect downside risks to the economy, thus maintaining a preference for quality bonds. Corporate bonds will provide opportunities to lock in yields. E is Elite Stock. Tariff expectations are anticipated to impact corporate earnings; cyclical stocks and defensive stocks can be balanced in the allocation. Outside the United States, focus on countries with minimal tariff impact or those that have already reached agreements.”
Macro & U.S. Markets
In 2H2025, the global economy will enter a slowdown mode, particularly in emerging markets, with the slowdown being most pronounced in the United States among mature markets. In the first half of the year, U.S. companies stockpiled goods in anticipation of tariff wars, resulting in decent economic performance. However, this situation will not continue into the second half, with GDP growth rates potentially falling below 1%, averaging around 1.35% for the year. The slowdown in the Eurozone and the UK will be less pronounced than in the U.S., but the negative impacts of the trade war cannot be underestimated. The economic outlook for Japan and China is also bleak.
In the first half of the year, the U.S. economy shone due to strong demand, but this demand is expected to wane in the second half, leading to weaker economic data. The uncertainty of Trump’s policies affects consumer confidence and corporate orders, with labor market data showing a downward trend, further impacting wages and consumption.
The Fed may cut interest rates by 25 basis points in the fourth quarter of 2025 and continue to lower rates by 50 to 75 basis points in 2026. As for U.S. stocks, the likelihood of entering a bear market this year is low, but a decline is possible in the third quarter, with annual profit estimates dropping from 14.1% to below 9%. Investors are advised to focus on defensive and high-quality stocks to weather the economic downturn.
In terms of bond investments, the weakening U.S. economy is expected to drive bond yields lower, with Treasury yields projected to fall to 4.0%-4.3% from the latter half of the third quarter to the fourth quarter. It is recommended to invest in higher-quality investment-grade corporate bonds and consider transitioning to non-investment-grade corporate bonds when the economy hits bottom.
James Chu, Chairman at KGI Securities Investment Advisory, says: “The easing of the trade war has reduced the risk of a U.S. economic recession, but its uncertainty has already affected economic confidence and will put pressure on hard data in the future. The recent rise in the stock market has brought valuations back to high levels. Investors need to be aware of the expiration of the tariff suspension and the subsequent economic and corporate earnings revisions that could bring volatility.”
Mainland China and Hong Kong Markets
Since early 2025, China’s economy has shown marginal improvement amid multiple internal and external factors. In the trade sector, after reaching a 90-day short-term tariff exemption agreement with the United States, market expectations for the full-year GDP growth rate have risen from the initially announced “Liberation Day” figure of 4.2% to 4.5% following the preliminary agreement; on the other hand, although exports to the U.S. continue to shrink, exports to ASEAN and India have increased significantly, with exporters actively expanding multilateral markets to mitigate external shocks, and the proportion of China’s exports to the U.S. continues to decline. Against this backdrop of external challenges, the Chinese government’s four economic priorities include: (1) maintaining liquidity in the banking system, (2) boosting consumer confidence, (3) supporting innovation and technology to drive high value-added production strategies, and (4) expanding trade alliances beyond the U.S.
China-U.S. relations will continue to play out in a “periodic tension and relaxation” new normal. Facing U.S. escalating high-tech export controls, China is accelerating the strengthening of domestic supply chains, diversified trade strategies, and independent R&D to promote core technology autonomy and control. The continued growth of gold reserves highlights the value of this safe-haven asset in uncertain environments. Regarding the Hong Kong stock market, the Hang Seng Index has performed strongly since the beginning of the year, reflecting sustained overseas capital allocation to Chinese assets and rising risk appetite. Overall, in the second half of 2025, China’s economy will continue to recover driven by policy support, domestic demand rebound, and manufacturing transformation and upgrading. However, attention should remain on uncertainties such as China-U.S. friction, geopolitical issues, and international demand fluctuations.
Hang Seng Index target price in the second half of 2025 is 25,500 points
We previously set a target of 23,200 points for the first half of 2025, when the biggest downside risk was Trump’s tariff policies. Considering the above factors, we believe the Hong Kong stock market will reflect more positive factors in the second half, which is also reflected in the market’s upward revision of earnings per share estimates for the Hang Seng Index. We raise this year’s Hang Seng Index target price to 25,500 points, corresponding to an estimated price-earnings ratio of about 11 times, with potential growth of 6.3% in the second half (as of June 17, 2025), and a total annual increase of 27.5%. In terms of sectors, we are optimistic on industry, Internet, raw materials, telecommunications, healthcare and utilities, including 13 selected stocks.
Cusson Leung, Chief Investment Officer at KGI, says: “Overall, in the second half of 2025, China’s economy will continue to recover driven by policy support, domestic demand rebound, and manufacturing transformation and upgrading. However, attention should remain on uncertainties such as China-U.S. friction, geopolitical issues, and international demand fluctuations. The Hang Seng Index year end target is at 25,500 points, with a positive outlook on 6 sectors and 13 stock picks.”
Taiwan Market
Trump’s erratic tariff policies have caused significant volatility in the Taiwan stock market during the first half of the year. However, with the recent easing of the trade war and stable short-term AI demand, the Taiwan stock market has seen some recovery. Looking ahead, we believe the negative impact of the trade war will gradually become evident, potentially leading to downward adjustments in the Taiwan stock market before the third quarter. Nonetheless, a moderate correction could help stabilize the market in the fourth quarter. Despite the temporary agreement between the U.S. and China, high tariffs continue to affect economic growth and inflation pressures. Given the close economic ties between Taiwan and the U.S., tariff impacts could lower Taiwan stock market profits. If adverse factors can be absorbed in the third quarter, the market is likely to stabilize in the fourth quarter, with AI demand remaining a crucial support for the Taiwan stock market.
James Chu, Chairman at KGI Securities Investment Advisory, says: “The demand for AI in the short term remains stable, supporting a continued rebound in the stock market. However, the trade war and exchange rate impacts have increased the uncertainty of corporate earnings. Early stockpiling has made the normally slow season in the first half of the year less sluggish for the Taiwanese stock market, but it may lead to a less prosperous peak season in the second half of the year.”
Singapore Market
In 2H25, Singapore’s economy is expected to experience cautious growth due to global trade uncertainties and a challenging external environment. While sectors like wholesale trade, manufacturing, finance, and insurance provide some support, geopolitical tensions and protectionism weigh on sentiment. Inflation remains manageable, but the labor market shows signs of strain. Trade activity, boosted recently by tariff suspensions, is expected to moderate.
Looking ahead, growth is influenced by external factors such as U.S. trade policies and China’s recovery. The government has revised growth expectations downward, but strengths in electronics and financial services persist. Strategic investments in AI, digitalization, and green technologies aim to future-proof the economy. Risks remain from potential trade conflicts and weakening global demand. Domestic measures to boost innovation and stabilize the property market are anticipated to support growth, though challenges for businesses and households may arise. Overall, Singapore’s economy is positioned to remain steady with limited near-term upside.
Chen Guangzhi, Head of Research at KGI Singapore, says: “Amid increasing global macroeconomic uncertainties, Singapore will further underscore its strengths in political and economic stability. Therefore, we remain cautiously upbeat about the outlook in 2H25.”
Hashtag: #KGI #MarketOutlook
https://www.kgi.com.hk/en/
https://www.linkedin.com/company/kgi-hongkong/
https://www.facebook.com/KGI.HongKong?mibextid=wwXIfr&rdid=3xkntTaTec9uUE6C&share_url=https%3A%2F%2Fwww.facebook.com%2Fshare%2F16VbJab3nN%2F%3Fmibextid%3DwwXIfr#
Wechat: KGI 凯基
https://www.instagram.com/kgi.hongkong?igsh=MTI5ems1ZzNlZ3YyMQ==
The issuer is solely responsible for the content of this announcement.
About KGI
KGI*has been a leading financial institution in Asia since 1997. Our scope of business encompasses wealth management, brokerage, fixed income, and asset management. We are committed to offering a comprehensive range of financial products and services to corporate, institutional, and individual clients throughout Asia. Backed by KGI Financial Group, we have a robust footprint in Asia, covering Taiwan, Hong Kong, Singapore, Indonesia, and Thailand^.
*KGI refers to KGI Asia Limited and its affiliates.
^an investee enterprise of KGI Securities, not a subsidiary.
The Taiwan-born pet mobility brand opens its first SoHo pop-up inside Flying Solo, bringing its Nordic-designed pet stroller collection to the heart of New York City.
NEW YORK, USA – Media OutReach Newswire – 02 April 2026 – FikaGO, the design-led pet mobility brand recognized across Asia and Europe, has opened its first New York City pop-up store inside Flying Solo in SoHo. The opening marks a deliberate move for a pet brand into one of the world’s most competitive retail districts.
Since entering the online American market in 2025, FikaGO has built a growing community of pet parents who see their animals as a central part of everyday life. Positioned as lifestyle essentials rather than conventional pet gear, FikaGO’s range of products is designed for people who want the best for their fur babies.
“We’ve always believed that pet products should not only be functional, but also beautifully integrated into everyday life.” — Eric Guu, Co-founder, FikaGO
SoHo was a considered choice: Flying Solo, with locations in New York and Paris, is known for championing independent design with a distinctly global sensibility.
The pop-up showcases FikaGO’s auto-folding Free To Go 2 in Sandy Beige, the brand’s bestselling product. All FikaGO’s products are manufactured using eco-friendly fabrics made from recycled materials, reflecting a commitment to sustainability. This includes their large-capacity Agile 2 pet strollers to their airline-approved Truffle carriers and the heavy-duty Kross pet wagon.
“Launching in SoHo is a meaningful milestone for us; it allows customers to truly experience the quality, design, and intention behind every FikaGO product.” — Eric Guu, Co-founder, FikaGO
As pet ownership rises globally, particularly among urban millennials and Gen Zs, demand for products that combine functionality, design, and lifestyle integration continues to grow. FikaGO was built for precisely this moment, and SoHo is precisely where that moment lives.
Visit the FikaGO pop-up at Flying Solo, 419 Broome Street, New York, or explore the full collection at https://us.fikago.com/.
Hashtag: #FikaGO #petmobilitybrand #petstroller #petcarrier #petwagon #petkennel #petbiketrailer
https://us.fikago.com/
https://www.facebook.com/FikaGO.US
https://www.instagram.com/fikago_us/
YouTube: 
https://www.youtube.com/@fikago5910
The issuer is solely responsible for the content of this announcement.
About FikaGO
FikaGO is a pet mobility brand founded in Taiwan, dedicated to crafting products that blend functionality, comfort, and modern aesthetics. With a presence across Asia and growing reach in Europe and the U.S, FikaGO is redefining everyday experiences between pets and their humans.
Media OutReach
Lee Kum Kee Celebrates Culinary Excellence at the Historic Hong Kong Debut of Asia’s 50 Best Restaurants 2026
From 23-25 March, Lee Kum Kee brought together top chefs, diverse cultures and industry communities through a range of thoughtfully curated experiences, bringing authentic Asian flavours to the global stage. As well as reaffirming the brand’s Asian roots and international perspective, its involvement reflected an enduring commitment to preserving culinary heritage and driving gastronomic innovation.
“Asian Flavour Duet“: A Culinary Journey Through Heritage and Innovation
Helping to build momentums for this year’s awards, Lee Kum Kee collaborated with Vicky Cheng, the acclaimed Executive Chef and owner of WING, to co-create the “Asian Flavour Duet”, a Hong Kong-style late-night supper party on 24 March. Hosted at two Hong Kong culinary landmarks, the experience unfolded in two chapters – “Paying Tribute to Heritage” and “Innovative Fusion” – and invited guests to explore the limitless possibilities of Asian flavour.
The evening began at the century-old Lin Heung Lau teahouse, a space filled with nostalgia and memories for generations of Hong Kongers. Chef Vicky reinterpreted classic Hong Kong late-night dishes using signature Lee Kum Kee sauces, while guests were immersed in the warmth of the historic venue.
The celebration then moved to Medora, Chef Vicky’s Western dining space, where an “Innovative Fusion” was revealed. He showcased his modern culinary philosophy by incorporating Lee Kum Kee sauces with contemporary techniques to create bold, unexpected dishes. Guests also enjoyed specially crafted cocktails infused with Lee Kum Kee sauces, alongside a delightful yet refined sauce-inspired gelato, demonstrating a harmonious interweaving of savoury, umami, sweetness and spice.
The multisensory journey seamlessly blended tradition with innovation, exploring the future of cuisine while highlighting Lee Kum Kee’s role as a global gateway to Asian culinary culture.
At the event, Dodie Hung, Executive Vice President – Corporate Affairs at Lee Kum Kee, commented, “Tonight, we are honoured to celebrate Hong Kong’s late‑night food culture with Chef Vicky and the global culinary community. From the legacy of Lin Heung Lau to the forward‑looking spirit of Medora, we are proud to be part of the creative journey and help showcase the depth of Asian flavours on the world stage.”
Celebrating a Gastronomic Brilliance with the Highest Climber Award Sponsored by Lee Kum Kee
During the awards ceremony on 25 March, Lee Kum Kee’s booth showcased a range of the brand’s acclaimed classic sauces and innovative products. Guests sampled specially crafted bites featuring Lee Kum Kee sauces, engaging directly with the flavours and techniques that have made the brand a trusted partner in both home and professional kitchens worldwide.
As part of the evening’s celebration of the region’s most exceptional culinary talents, the Highest Climber Award sponsored by Lee Kum Kee was presented to Lamdre in Beijing by Chef Park from Atomix (No.1 in North America’s 50 Best Restaurants 2025). Lambre was applauded for its pioneering plant-based dining space that promotes healthy, sustainable living while honouring Chinese biodiversity in its menus.
In addition, WING, led by Chef Vicky, achieved an impressive second place in 2026 Asia’s 50 Best Restaurants list. The restaurant had also previously ranked No. 11 on The World’s 50 Best Restaurants list in 2025, underscoring its continued international acclaim.
Building the Future Together: Deepening Global Partnerships
With the success of this prestigious awards ceremony in Hong Kong, China, Lee Kum Kee looks forward to deepening its collaboration with leading talents in the global culinary community. By continuing to champion Asian flavours and foster meaningful dialogue and exchange, the brand will continue to bring the spirit of Asian cuisine to kitchens and dining tables around the world.
Hashtag: #LeeKumKee #LKK
The issuer is solely responsible for the content of this announcement.
About Lee Kum Kee
Lee Kum Kee is the global gateway to Asian culinary culture, dedicated to promoting Chinese culinary culture worldwide. Since 1888, it has brought people together over joyful reunions, shared traditions and memorable meals. Beloved by consumers and chefs alike, Lee Kum Kee’s range of more than 300 sauces and condiments sparks creativity in kitchens everywhere, inspiring professional and home chefs to experiment, create and delight. Headquartered in Hong Kong, China and serving over 100 countries and regions, Lee Kum Kee’s rich heritage, unwavering commitment to quality, sustainable practices and “Constant Entrepreneurship” combine to enable superior experiences through Asian cuisine for people worldwide. For more information, please visit www.LKK.com.
About Asia’s 50 Best Restaurants
Launched in 2013, Asia’s 50 Best Restaurants aims to showcase the outstanding achievements and diverse culinary landscape of the region. The list is determined by the Asia’s 50 Best Restaurants Academy, a panel of over 350 culinary experts from across Asia who vote independently based on their specialised knowledge of the local dining scene. The Asia’s 50 Best Restaurants series includes the awards ceremony and list announcement, creating a premier networking platform for restaurateurs, media, seasoned travelers and culinary connoisseurs to celebrate the exceptional service, passion and talent in the dining industry.
- Herbert Vongpusanachai takes on the role of Senior Vice President for Commercial for the region, effective April 1, 2026
SINGAPORE – Media OutReach Newswire – 2 April 2026 – DHL Express, the world’s leading international express service provider, has appointed Herbert Vongpusanachai as Senior Vice President, Commercial for Asia Pacific, effective April 1, 2026. Herbert, who currently serves as Managing Director for DHL Express Thailand & Indochina, will be based in Singapore for his new role.
Herbert brings more than two decades of leadership experience within DHL Express, having successfully helmed multiple key markets across the region. He first joined the company in 2003 as Managing Director for Thailand & Indochina, later taking on leadership of Singapore in 2008, followed by Hong Kong & Macau in 2016. Since returning to lead Thailand & Indochina in 2020, he has driven sustained year‑on‑year profitable growth, transforming the cluster into one of the region’s key engines of expansion.
“Herbert has an exceptional track record of delivering strong business results while nurturing highly engaged teams across diverse markets. His deep understanding of our customers, collaborative leadership style, and ability to unearth opportunities in complex environments make him the ideal leader to drive our commercial agenda for Asia Pacific. I am confident that under his guidance, we will continue to accelerate sustainable growth across the region,” said Ken Lee, CEO for Asia Pacific, DHL Express.
In his new regional role, Herbert will shape and accelerate the commercial strategy for DHL Express across Asia Pacific by working with other functions to assess new sectors, routes and trade lanes with high potential for growth. He will focus on deepening customer engagement and supporting their expansion, while driving sustainable volume growth and advancing the adoption of new technologies to enhance commercial execution across markets. With his extensive country expertise and people‑first leadership style, Herbert is well‑positioned to support both regional and country teams in raising commercial performance to new levels.
“Asia Pacific remains an important anchor in global trade as seen in the latest DHL Global Connectedness Report, and this indicates the unwavering role of logistics to facilitate the flow of goods. With the newly introduced Heavyweight Express solution, which enables customers to ship heavyweight shipments with speed, certainty and reliability, I look forward to working alongside our talented teams to contribute to shaping the next chapter of DHL Express’s commercial success,” said Herbert Vongpusanachai, Senior Vice President – Commercial for Asia Pacific, DHL Express.
The latest DHL Global Connectedness Report shows that the region remains a major anchor of global commerce, with multiple economies rising in global connectedness rankings and Southeast Asia firmly establishing itself as a fast‑growing trade corridor. This also mirrors one of DHL Group’s strategies to better support 20 markets globally to accelerate growth; eight of them rest in Asia Pacific – underscoring the region’s critical role in DHL’s global network. As trade flows diversify and intra‑Asia integration deepens, this leadership appointment further strengthens DHL Express’s position in Asia Pacific.
Hashtag: #DHL
https://group.dhl.com/en.html
https://www.linkedin.com/company/dhlexpress/
The issuer is solely responsible for the content of this announcement.
DHL – The logistics company for the world
DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With approximately 389,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as “The logistics company for the world”.
DHL is part of DHL Group. The Group generated revenues of approximately 82.9 billion euros in 2025. With sustainable business practices and a commitment to society and the environment, the Group makes a positive contribution to the world. DHL Group aims to achieve net-zero emissions logistics by 2050.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn