SINGAPORE - Investors need to remain vigilant to market volatility, said Finance Minister Heng Swee Keat on Tuesday (Jan 12).
Speaking at a UBS Wealth Insights conference, he told the audience: "Asset prices have been supported in part by the period of prolonged interest rates. But Asia can meet the cyclical challenges from arguably a stronger based compared to the late 1990s."
Mr Heng raised three few areas to watch: Whether the Chinese economy - and commodity prices - stabilise, how the repricing of interest rates will affect financial markets, and how financial market volatility will weigh on confidence and affect business and consumer spending.
He added that in the short term, the performance of Singapore's externally-oriented industries will be subdued.