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Risk assets corrected sharply amid escalating Middle East war when the US and Israel launched unilateral pre-emptive strikes on Iran on February 28. In retaliation, Iran closed the Strait of Hormuz through which about 20% of crude oil and LNG exports from the Gulf pass through, resulting

Risk assets in most markets continued to move higher, albeit cautiously and unevenly. US tariff news took centre stage again during the month. On 20 February, the US Supreme Court came out with its decision on Trump’s emergency tariffs, ruling them as illegal. The markets rallied following

Risk assets started the year on a positive note, heading higher with volatility amid geopolitical tensions. The World Index gained 2.19% in January. The MSCI Far East Ex. Japan index outperformed, gaining 10.96%, driven by North Asia markets, in particular Korea and Taiwan markets. Within the Asia