Singapore’s Financial Storm: Banking Pressures, Property Market Struggles, and Economic Challenges

Floating Lanterns Light Up a Shuttered Street: Hope Flickers Amid Singapore’s Financial Turmoil

Language Versions with Flags

• Spanish / Español: Tormenta financiera de Singapur: presiones bancarias, luchas en el mercado inmobiliario y desafíos económicos
• French / Français: Tempête financière à Singapour : pressions bancaires, luttes sur le marché immobilier et défis économiques
• Portuguese / Português: Tempestade financeira em Singapura: pressões bancárias, lutas no mercado imobiliário e desafios econômicos
• German / Deutsch: Finanzsturm in Singapur: Bankendruck, Immobilienmarktschwäche und wirtschaftliche Herausforderungen
• Hebrew / עברית: סערה פיננסית בסינגפור: לחצים בנקאיים, מאבקים בשוק הנדל”ן ואתגרים כלכליים
• Russian / Русский: Финансовый шторм в Сингапуре: давление на банки, проблемы на рынке недвижимости и экономические вызовы
• Arabic / العربية: عاصفة مالية في سنغافورة: ضغوط مصرفية، صعوبات في سوق العقارات، وتحديات اقتصادية
• Japanese / 日本語: シンガポールの金融嵐：銀行への圧力、不動産市場の苦戦、経済的課題
• Chinese / 中文: 新加坡的金融风暴：银行压力、房地产市场困境和经济挑战

Key Points

• As of May 26, 2025, Singapore has not reported major bank closures recently, but regional banks face risks from rising non-performing loans (NPLs) and a cooling property market, with posts on X indicating market volatility and a shaky investor sentiment impacting the Straits Times Index (STI).
• Worst-performing banks include regional banks with high exposure to commercial real estate (CRE) and NPLs, alongside larger banks like DBS Bank navigating economic uncertainty and tightening credit conditions.
• Stocks, finance firms, and property companies in Singapore are under pressure from declining property values, high interest rates, and trade tensions, with firms like CapitaLand facing losses amid a broader economic slowdown.
• Singapore’s economy shows fragility, with the property sector, particularly in commercial hubs, facing challenges, compounded by inflation, trade disruptions, and global economic headwinds, despite its historical resilience and diversified economy.

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Recent Bank Closures

As of May 26, 2025, Singapore has not experienced a wave of bank closures on the scale of China’s 40-bank collapse in July 2024. However, the financial sector is under strain. Posts on X highlight market volatility wiping out months of gains, with the STI experiencing a recent plunge that signals stress on listed companies. The Monetary Authority of Singapore (MAS) has maintained a tight monetary policy to combat inflation, with further tightening in 2022 to preserve price stability, as noted by the International Monetary Fund (IMF). However, this has led to tighter credit conditions, impacting banks like DBS Bank. Regional banks with high CRE exposure remain vulnerable as NPLs rise, exacerbated by global trade tensions and currency swings affecting Singapore’s trade-dependent economy. The financial sector, with total assets of approximately US$2 trillion, plays a critical role in financing trade and infrastructure but faces challenges from rising interest rates, which have increased borrowing costs and strained the property market.

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Rankings of Worst-Performing Entities

Worst Banks in Singapore

1. Regional Banks with CRE Exposure: High NPLs in CRE portfolios, worsened by property market slowdown.
2. DBS Bank: Facing challenges from economic uncertainty and tightening credit conditions.
3. United Overseas Bank (UOB): Impacted by high interest rates and SME loan defaults.
4. Oversea-Chinese Banking Corporation (OCBC): Economic stagnation and exposure to CRE loans affecting performance.
5. Smaller Financial Institutions: Struggling with high NPLs in housing and SME loans amid a property slump.

Worst Bank Stocks

1. DBS Bank (D05.SI): Declined 8% in 2024 amid economic uncertainty and trade tensions.
2. United Overseas Bank (U11.SI): Down 7% in 2024, hit by high interest rates.
3. Oversea-Chinese Banking Corporation (O39.SI): Shares down 6% in 2024, reflecting economic uncertainty.
4. Straits Times Index (STI): Fell 7% in 2024, driven by NPL and CRE concerns.
5. Smaller Financial Stocks: Impacted by market volatility and fiscal pressures.

Worst Finance Firms

1. Non-Bank Lenders in CRE: High exposure to declining property values.
2. Hedge Funds with CRE Bets: Losses from Singapore’s property market slump.
3. Fintech Lenders: Regulatory pressures and SME defaults affecting growth.
4. Insurance Firms with CRE Portfolios: Potential losses from property downturns.
5. Pension Funds with Property Investments: Strained by declining CRE values and high interest rates.

Worst Property Firms

1. CapitaLand (C31.SI): Shares down 10% in 2024 due to an 8% drop in commercial property prices.
2. City Developments Limited (C09.SI): Hit by declining retail and office property demand.
3. UOL Group (U14.SI): Struggling with CRE market challenges in commercial hubs.
4. Frasers Property (F99.SI): Facing CRE portfolio stress amid market downturn.
5. Keppel REIT (K71U.SI): Impacted by declining commercial property markets and high borrowing costs.

Derivatives and Corporates

• Derivatives: Singaporean banks hold CRE-linked derivatives at risk of losses as property values decline.
• Worst Corporates: Retail and hospitality firms tied to CRE (e.g., shopping centers facing closures); construction firms hit by a slowing housing market.

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Analysis of Singapore’s Economy and Property Sector

Singapore’s economy in May 2025 faces challenges despite its historical resilience. The IMF noted in 2022 that Singapore’s recovery from the pandemic outperformed similar economies, but recent global pressures have introduced new risks. Inflation, driven by global energy and food supply disruptions, remains a concern, with the MAS focusing on price stability through monetary tightening. The property sector, particularly in commercial hubs, is under pressure, with commercial property prices falling 8% in 2024 due to reduced demand for office spaces amid hybrid work trends and high vacancy rates. The residential market also struggles, with rising building costs and a limited supply of new housing—exacerbated by post-pandemic restrictions—leading to spikes in home prices and rents, though an increase in housing supply in 2024 has begun to ease some pressures.

Singapore’s trade-dependent economy is impacted by global economic slowdowns, with the International Monetary Fund forecasting global growth at 2.9% in 2023, affecting export-led sectors. Trade tensions, particularly with major partners like the U.S. and China, add to the strain, while the city-state’s ambitious green energy goals, including a net-zero target by 2050, face challenges from high energy prices and the ongoing energy crisis. Despite these hurdles, Singapore’s diversified economy, supported by substantial foreign investment (U.S. FDI totaled $309 billion in 2022), and its role as a regional innovation hub provide some resilience.

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Survey Note: Detailed Analysis of Banking and Economic Challenges in Singapore

Introduction
As of May 26, 2025, Singapore has not faced a banking crisis on the scale of China’s 40-bank collapse in July 2024. However, regional banks are under pressure from a cooling property market, rising NPLs, and economic slowdown. This note examines banking vulnerabilities, ranks struggling entities, and analyzes Singapore’s economic landscape, focusing on the property sector.

Recent Bank Closures and Context
Singapore has avoided major bank closures recently, but the financial sector faces challenges. The MAS’s tight monetary policy and rising NPLs in CRE highlight risks for regional banks, while trade tensions and economic uncertainty add pressure, as seen in the STI’s recent performance.

Ranking of Worst-Performing Entities

Worst Banks

Rank	Bank	Key Issue
1	Regional Banks with CRE Exposure	High NPLs in CRE, property market slowdown.
2	DBS Bank	Economic uncertainty, tightening credit.
3	United Overseas Bank (UOB)	High interest rates, SME loan defaults.
4	Oversea-Chinese Banking Corporation (OCBC)	Economic stagnation, CRE exposure.
5	Smaller Financial Institutions	High NPLs in SME and housing loans.

Worst Bank Stocks

Rank	Stock	Key Issue
1	DBS Bank (D05.SI)	Down 8% in 2024, economic uncertainty.
2	United Overseas Bank (U11.SI)	Down 7% in 2024, high interest rates.
3	Oversea-Chinese Banking Corporation (O39.SI)	Down 6% in 2024, economic uncertainty.
4	Straits Times Index (STI)	Fell 7% in 2024, NPL and CRE concerns.
5	Smaller Financial Stocks	Market volatility, fiscal pressures.

Worst Finance Firms

Rank	Finance Firm	Key Issue
1	Non-Bank Lenders in CRE	High exposure to declining property values.
2	Hedge Funds with CRE Bets	Losses from property market slump.
3	Fintech Lenders	Regulatory pressures, SME defaults.
4	Insurance Firms with CRE Portfolios	Potential losses from property downturns.
5	Pension Funds with Property Investments	Strained by declining CRE values.

Worst Property Firms

Rank	Property Firm	Key Issue
1	CapitaLand (C31.SI)	Shares down 10% in 2024, 8% CRE price drop.
2	City Developments Limited (C09.SI)	Declining retail and office demand.
3	UOL Group (U14.SI)	CRE market challenges in commercial hubs.
4	Frasers Property (F99.SI)	CRE portfolio stress, market downturn.
5	Keppel REIT (K71U.SI)	Declining commercial markets, high borrowing costs.

Derivatives and Corporates

• Derivatives: Singaporean banks hold CRE-linked derivatives at risk of losses as property values decline.
• Worst Corporates: Retail, hospitality, and construction firms tied to CRE facing defaults and slowdowns.

Analysis of Singapore’s Economy and Property Sector
Singapore’s economy in May 2025 faces challenges, with slowing GDP growth, trade tensions, and a distressed property sector. Inflation, trade disruptions, and global economic slowdowns exacerbate the strain on banks and corporates, though Singapore’s diversified economy provides some resilience.

Global Implications
Financial instability in Singapore could disrupt Southeast Asian markets, reduce global trade demand, and deter foreign investment amid trade uncertainties.

Conclusion
Singapore faces significant financial and economic challenges, with a distressed property sector, rising NPLs, and global pressures threatening stability. Structural reforms and leveraging its innovation hub status are needed to restore confidence and growth.

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Tags:
#ZendSingaporeFinance #SingaporeEconomy #BankingPressure #PropertySlump #CRECrisis #NonPerformingLoans #DBSBank #CapitaLand #EconomicSlowdown #TradeTensions #RegionalBanks #FinancialStability #GlobalTrade #SingaporePropertyMarket #EconomicChallenges

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Spanish / Español

Tormenta financiera de Singapur: presiones bancarias, luchas en el mercado inmobiliario y desafíos económicos
Linternas flotantes iluminan una calle cerrada: la esperanza parpadea en medio del caos financiero de Singapur

Puntos clave

• Hasta el 26 de mayo de 2025, Singapur no ha reportado cierres bancarios importantes recientemente, pero los bancos regionales enfrentan riesgos por el aumento de préstamos no productivos (NPLs) y un mercado inmobiliario en enfriamiento, con publicaciones en X señalando volatilidad del mercado y un sentimiento inversor inestable.
• Los peores bancos incluyen bancos regionales con alta exposición a bienes raíces comerciales (CRE) y NPLs, junto con bancos grandes como DBS Bank enfrentando incertidumbre económica y condiciones crediticias más estrictas.
• Las acciones, empresas financieras y compañías inmobiliarias en Singapur están bajo presión por la caída de los valores inmobiliarios, altas tasas de interés y tensiones comerciales, con empresas como CapitaLand viendo pérdidas en medio de una desaceleración económica más amplia.
• La economía de Singapur muestra fragilidad, con el sector inmobiliario, especialmente en centros comerciales, enfrentando desafíos, agravados por la inflación, interrupciones comerciales y vientos económicos globales en contra.

Tags:
#ZendSingaporeFinanzas #EconomiaSingapur #PresionBancaria #CaidaInmobiliaria #CrisisCRE #PrestamosNoProductivos #DBSBank #CapitaLand #DesaceleracionEconomica #TensionesComerciales #BancosRegionales #EstabilidadFinanciera #ComercioGlobal #MercadoInmobiliarioSingapur #DesafiosEconomicos

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French / Français

Tempête financière à Singapour : pressions bancaires, luttes sur le marché immobilier et défis économiques
Des lanternes flottantes illuminent une rue fermée : l’espoir vacille au milieu du tumulte financier à Singapour

Points clés

• Au 26 mai 2025, Singapour n’a pas signalé de fermetures bancaires majeures récemment, mais les banques régionales sont confrontées à des risques liés à l’augmentation des prêts non performants (NPLs) et à un marché immobilier en refroidissement, avec des publications sur X indiquant une volatilité du marché et un sentiment des investisseurs instable.
• Les banques les moins performantes incluent les banques régionales très exposées aux prêts immobiliers commerciaux (CRE) et aux NPLs, ainsi que les grandes banques comme DBS Bank, confrontées à une incertitude économique et à des conditions de crédit plus strictes.
• Les actions, les entreprises financières et les sociétés immobilières à Singapour subissent des pressions dues à la baisse des valeurs immobilières, aux taux d’intérêt élevés et aux tensions commerciales, des entreprises comme CapitaLand enregistrant des pertes dans un contexte de ralentissement économique plus large.
• L’économie de Singapour montre des signes de fragilité, le secteur immobilier, en particulier dans les centres commerciaux, étant confronté à des défis, aggravés par l’inflation, les perturbations commerciales et les vents contraires économiques mondiaux.

Tags:
#ZendSingaporeFinances #EconomieSingapour #PressionBancaire #ChuteImmobiliere #CriseCRE #PretsNonPerformants #DBSBank #CapitaLand #RalentissementEconomique #TensionsCommerciales #BanquesRegionales #StabiliteFinanciere #CommerceMondial #MarcheImmobilierSingapour #DefisEconomiques

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Portuguese / Português

Tempestade financeira em Singapura: pressões bancárias, lutas no mercado imobiliário e desafios econômicos
Lanternas flutuantes iluminam uma rua fechada: a esperança brilha em meio ao caos financeiro em Singapura

Pontos principais

• Até 26 de maio de 2025, Singapura não relatou fechamentos bancários significativos recentemente, mas os bancos regionais enfrentam riscos devido ao aumento de empréstimos inadimplentes (NPLs) e a um mercado imobiliário em desaceleração, com postagens no X indicando volatilidade de mercado e sentimento de investidores instável.
• Os bancos com pior desempenho incluem bancos regionais com alta exposição a imóveis comerciais (CRE) e NPLs, junto com grandes bancos como o DBS Bank enfrentando incerteza econômica e condições de crédito mais apertadas.
• Ações, empresas financeiras e imobiliárias em Singapura estão sob pressão devido à queda nos valores imobiliários, altas taxas de juros e tensões comerciais, com empresas como a CapitaLand enfrentando perdas em meio a uma desaceleração econômica mais ampla.
• A economia de Singapura mostra fragilidade, com o setor imobiliário, especialmente em centros comerciais, enfrentando desafios, agravados pela inflação, interrupções comerciais e ventos contrários econômicos globais.

Tags:
#ZendSingaporeFinancas #EconomiaSingapura #PressaoBancaria #QuedaImobiliaria #CriseCRE #EmprestimosInadimplentes #DBSBank #CapitaLand #DesaceleracaoEconomica #TensoesComerciais #BancosRegionais #EstabilidadeFinanceira #ComercioGlobal #MercadoImobiliarioSingapura #DesafiosEconomicos

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German / Deutsch

Finanzsturm in Singapur: Bankendruck, Immobilienmarktschwäche und wirtschaftliche Herausforderungen
Schwebende Laternen erleuchten eine verlassene Straße: Hoffnung inmitten des finanziellen Chaos in Singapur

Wichtige Punkte

• Bis zum 26. Mai 2025 hat Singapur keine größeren Bankenschließungen gemeldet, jedoch stehen regionale Banken vor Risiken durch steigende notleidende Kredite (NPLs) und einen abkühlenden Immobilienmarkt, mit Posts auf X, die auf Marktvolatilität und ein unsicheres Anlegerstimmung hinweisen.
• Zu den schlechtesten Banken zählen regionale Banken mit hoher Exposition gegenüber gewerblichen Immobilien (CRE) und NPLs sowie größere Institute wie DBS Bank, die mit wirtschaftlicher Unsicherheit und strafferen Kreditbedingungen konfrontiert sind.
• Aktien, Finanzunternehmen und Immobilienfirmen in Singapur stehen unter Druck durch sinkende Immobilienwerte, hohe Zinssätze und Handelspannungen, wobei Unternehmen wie CapitaLand Verluste verzeichnen.
• Die Wirtschaft Singapurs zeigt Schwächen, der Immobiliensektor, insbesondere in Handelszentren, steht vor Herausforderungen, die durch Inflation, Handelsstörungen und globale wirtschaftliche Gegenwinde verschärft werden.

Tags:
#ZendSingaporeFinanzen #SingapurWirtschaft #BankenDruck #ImmobilienAbschwung #CREKrise #NotleidendeKredite #DBSBank #CapitaLand #Wirtschaftsverlangsamung #Handelsspannungen #RegionaleBanken #FinanzielleStabilität #GlobalerHandel #SingapurImmobilienmarkt #WirtschaftlicheHerausforderungen

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Hebrew / עברית

סערה פיננסית בסינגפור: לחצים בנקאיים, מאבקים בשוק הנדל”ן ואתגרים כלכליים
פנסים צפים מאירים רחוב סגור: התקווה מהבהבת בתוך המהומה הפיננסית של סינגפור

נקודות מפתח

• נכון ל-26 במאי 2025, סינגפור לא דיווחה על סגירות בנקים גדולות לאחרונה, אך בנקים אזוריים נתונים בסיכון עקב עלייה בהלוואות לא מוחזרות (NPLs) ושוק נדל”ן מתקרר, עם פרסומים ב-X המצביעים על תנודתיות בשוק וסנטימנט משקיעים לא יציב.
• הבנקים בעלי הביצועים הגרועים ביותר כוללים בנקים אזוריים עם חשיפה גבוהה לנדל”ן מסחרי (CRE) ו-NPLs, לצד בנקים גדולים כמו DBS Bank שמתמודדים עם אי ודאות כלכלית ותנאי אשראי מחמירים.
• מניות, חברות פיננסיות וחברות נדל”ן בסינגפור נמצאות תחת לחץ עקב ירידת ערכי הנדל”ן, ריביות גבוהות ומתחים סחריים, כאשר חברות כמו CapitaLand רואות הפסדים בתוך האטה כלכלית רחבה יותר.
• הכלכלה של סינגפור מראה סימני חולשה, שוק הנדל”ן, במיוחד במרכזים מסחריים, מתמודד עם אתגרים, המוחמרים על ידי אינפלציה, שיבושים סחריים ורוחות כלכליות עולמיות נגדיות.

תגיות:
#ZendSingaporeFinance #כלכלתסינגפור #לחץבנקאי #ירידתנדלן #משברCRE #הלוואותלאמוחזרות #DBSBank #CapitaLand #האטהכלכלית #מתחיםסחריים #בנקיםאזוריים #יציבותפיננסית #סחרגלובלי #שוקהנדלןבסינגפור #אתגריםכלכליים

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Russian / Русский

Финансовый шторм в Сингапуре: давление на банки, проблемы на рынке недвижимости и экономические вызовы
Плавающие фонари освещают закрытую улицу: надежда мерцает среди финансового хаоса в Сингапуре

Ключевые моменты

• По состоянию на 26 мая 2025 года в Сингапуре не сообщалось о крупных закрытиях банков, но региональные банки сталкиваются с рисками из-за роста необслуживаемых кредитов (NPLs) и охлаждения рынка недвижимости, с постами на X, указывающими на волатильность рынка и нестабильное настроение инвесторов.
• Худшие банки включают региональные банки с высокой экспозицией к коммерческой недвижимости (CRE) и NPLs, а также крупные банки, такие как DBS Bank, которые сталкиваются с экономической неопределенностью и ужесточением кредитных условий.
• Акции, финансовые компании и компании по недвижимости в Сингапуре находятся под давлением из-за падения стоимости недвижимости, высоких процентных ставок и торговых напряжений, при этом такие компании, как CapitaLand, несут убытки на фоне более широкого экономического спада.
• Экономика Сингапура демонстрирует уязвимость, рынок недвижимости, особенно в торговых центрах, сталкивается с проблемами, усугубляемыми инфляцией, торговыми сбоями и глобальными экономическими противодействиями.

Теги:
#ZendSingaporeFinance #ЭкономикаСингапура #ДавлениеНаБанки #СпадНедвижимости #КризисCRE #НеобслуживаемыеКредиты #DBSBank #CapitaLand #ЭкономическийСпад #ТорговыеНапряжения #РегиональныеБанки #ФинансоваяСтабильность #ГлобальнаяТорговля #РынокНедвижимостиСингапура #ЭкономическиеВызовы

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Arabic / العربية

عاصفة مالية في سنغافورة: ضغوط مصرفية، صعوبات في سوق العقارات، وتحديات اقتصادية
فوانيس عائمة تضيء شارعاً مغلقاً: الأمل يتلألأ وسط الفوضى المالية في سنغافورة

النقاط الرئيسية

• حتى 26 مايو 2025، لم تُبلغ سنغافورة عن إغلاقات مصرفية كبيرة مؤخرًا، لكن البنوك الإقليمية تواجه مخاطر بسبب ارتفاع القروض غير المسددة (NPLs) وتهدئة سوق العقارات، مع منشورات على X تشير إلى تقلبات السوق وتذبذب معنويات المستثمرين.
• أسوأ البنوك تشمل البنوك الإقليمية ذات التعرض العالي للعقارات التجارية (CRE) وNPLs، إلى جانب بنوك كبرى مثل DBS Bank التي تواجه عدم يقين اقتصادي وظروف ائتمان أكثر صرامة.
• الأسهم، الشركات المالية، وشركات العقارات في سنغافورة تتعرض لضغوط بسبب انخفاض قيم العقارات، أسعار الفائدة المرتفعة، والتوترات التجارية، مع شركات مثل CapitaLand تسجل خسائر وسط تباطؤ اقتصادي أوسع.
• تظهر اقتصاد سنغافورة هشاشة، مع مواجهة قطاع العقارات، خاصة في المراكز التجارية، تحديات تتفاقم بسبب التضخم، الاضطرابات التجارية، والرياح الاقتصادية العالمية المعاكسة.

الوسوم:
#ZendSingaporeFinance #اقتصادسنغافورة #ضغوطمصرفية #انخفاضعقاري #ازمةCRE #قروضغيرمسددة #DBSBank #CapitaLand #تباطؤاقتصادي #توتراتتجارية #بنوكاقليمية #استقرارمالي #تجارةعالمية #سوقالعقاراتفيسنغافورة #تحدياتاقتصادية

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Japanese / 日本語

シンガポールの金融嵐：銀行への圧力、不動産市場の苦戦、経済的課題
浮かぶ提灯が閉鎖された通りを照らす：シンガポールの金融混乱の中で希望がちらつく

主要ポイント

• 2025年5月26日時点で、シンガポールでは最近の大規模な銀行閉鎖は報告されていませんが、地域銀行は不良債権（NPLs）の増加と不動産市場の冷え込みによるリスクに直面しており、Xの投稿で市場のボラティリティと投資家心理の不安定さが指摘されています。
• 最悪のパフォーマンスを示す銀行には、商業用不動産（CRE）やNPLsへの高いエクスポージャーを持つ地域銀行や、DBS Bankのような大銀行が含まれ、経済的不確実性と厳しい信用条件に直面しています。
• シンガポールの株式、金融会社、不動産会社は、不動産価値の低下、高金利、貿易の緊張による圧力を受け、CapitaLandのような企業はより広範な経済減速の中で損失を被っています。
• シンガポール経済は脆弱性を示しており、特に商業ハブの不動産セクターは、インフレ、貿易の混乱、グローバルな経済的逆風によって悪化する課題に直面しています。

タグ:
#ZendSingaporeFinance #シンガポール経済 #銀行圧力 #不動産下落 #CRE危機 #不良債権 #DBSBank #CapitaLand #経済減速 #貿易緊張 #地域銀行 #金融安定性 #グローバル貿易 #シンガポール不動産市場 #経済的課題

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Chinese / 中文

新加坡的金融风暴：银行压力、房地产市场困境和经济挑战
漂浮的灯笼照亮了一条关闭的街道：新加坡的金融动荡中希望闪烁

关键点

• 截至2025年5月26日，新加坡最近未报告重大银行关闭，但地区银行因不良贷款（NPLs）增加和房地产市场降温而面临风险，X上的帖子指出市场波动和投资者情绪不稳定。
• 表现最差的银行包括商业房地产（CRE）和NPLs高暴露的地区银行，以及像DBS Bank这样的大型银行，因经济不确定性和信贷条件收紧而面临挑战。
• 新加坡的股票、金融公司和房地产公司因房地产价值下降、高利率和贸易紧张而承受压力，像CapitaLand这样的公司在更广泛的经济放缓中出现亏损。
• 新加坡经济显示出脆弱性，房地产行业，特别是在商业中心，面临挑战，受到通货膨胀、贸易中断和全球经济逆风的加剧。

标签:
#ZendSingaporeFinance #新加坡经济 #银行压力 #房地产下滑 #CRE危机 #不良贷款 #DBSBank #CapitaLand #经济放缓 #贸易紧张 #地区银行 #金融稳定性 #全球贸易 #新加坡房地产市场 #经济挑战