Monday Wrap: Gold ambitions, office crunch, and anti-fraud collab

Meanwhile, capital preservation tops investors' priorities. 

Last week in Singapore Business Review, the country is ramping up efforts to strengthen its precious metals hub, office space is tightening further, and financial institutions are collaborating to combat fraud.

Singapore, supported by its neutral jurisdiction, is expanding clearing and vaulting services to attract international investor interest in gold, according to analysts. 

Meanwhile, expanding companies may need to secure office space earlier as the market faces a supply gap through 2027 following the completion of Shaw Tower, the only major office project added to the market this year.

Industry leaders at the Asian Banking & Finance and Insurance Asia Summit on 1 July push for collaboration and intelligence sharing across banks, insurers, regulators, and law enforcement as organised fraud becomes more sophisticated.

On the other hand, investment banking fees rose 3.1% to $541.11m (US$418.4m) in the first half of the year, with DBS Group topping the fee league table.

A CBRE report found private home price growth slowed to its weakest pace in seven quarters in the second quarter on the back of affordability pressures and a higher share of suburban sales, which weighed on the market.

Local investors are now more focused on preserving capital than regional peers, reflecting a more cautious approach amidst ongoing market uncertainty. 

Lastly, the Export Price Index slipped 0.8% in May, reversing April's 3% growth, after lower oil prices outweighed continued gains across non-oil exports.