Observation: International equities have outperformed U.S.
equities year-to-date in 2025. Elevated valuations at the start of the year,
coupled with policy uncertainty stemming from tariff threats and political
rhetoric, may have contributed to the underperformance of U.S. markets. In
contrast, international markets such as China/Hong Kong and Singapore may
present tactical opportunities with more favourable risk-reward profiles.
Disclaimers Apply