Trump continued his bullying tactics in 2Q, weaponizing tariffs by imposing a 10% import tax from every countries in the world, with some countries facing a higher charge due to their trade imbalance with USA. China, which was specifically targeted, ends up with a 145% levies as they went head on with USA. Though Trump will not admit it, he blinked first for de-escalation as China uses rare earth export control to choke USA high tech sector. Will EU survive Trump's bullying as July 8 deadline draws near? We will know in a week's time. In the meanwhile, prepare for a rough ride.
DJI ended at 44094, an increase of 2061 points (+4.90%) compared to 1Q 2025. For Singapore, STI ended at 3964, an decrease of 8 points (-0.20%) compared to last quarter. Banks in Singapore (50.1% STI weightage) continued to do well with record profits as interest rates remains elevated, though the sediment is that rates should start coming down in Q3. Overall, market continue to respond to Trump's policy wimps.
In this current quarter, taking the short opportunity presented when Trump was scaring the world with his tariffs, I did a few loadings.
Transaction 1: Bought 1 batch DBS shares in April.
Darling of Singapore with growing loans and profits. Just buy the dip for the dividends. Who knows 10 years later, we might see a $100 DBS on SGX?
Transaction 2: Bought 1 batch Marriott shares in April.
Same reasoning, just buy the dip with their healthy share buyback program. I doubt Trump will want to crash USA economy, unless he wants to lose his republican base. Given his nature, he will pass his big beautiful tax bill, enrich the rich and kick any potential pitfall to whoever is coming after his term.
Transaction 3: Bought 1 batch Danaher shares in April.
Love this counter and their Danaher Business System. Work the companies within their group dry to achieve maximum efficiency to generate more cash to go buy other company to work on.
Transaction 4: Bought 1 batch Grab shares in April.
I believe in their potential with the up and coming to monetize Grab Ads and digital banks in SG, ID and MY. Give them 2 more years and healthy profits should start rolling in once they have economy of scale.
That is all for now. See you all in Q3 2025 update and thank you for reading thus far.
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