With a growing appetite for diversification and alternative investments, more Singaporean investors are turning to art
. Coupled with a potential rise in value of as much as 22% per year, the allure of investing in artwork becomes readily apparent.
However, experts caution that artwork is not like traditional investments such as stocks or real estate. They advise not to approach artwork purely as investments, but to allow yourself to explore, understand and develop your personal relationship with the medium.Singapore stocks closed six consecutive sessions deep in the red, causing the STI to shed 22.82 points, or 0.7% — closing the week at 3,173.93.
South Korea and Japan also saw market dips. The former finished the week down by 0.6%, a sixth straight day in the red. Meanwhile, while Japan’s July core inflation dipped by 20 basis points to 3.1%, the Nikkei 225 slid 0.6%.The jury is still out on whether we’re seeing a normal market correction or the start of a market crash. Depending on your convictions, this could signal a coming market entry point for investors of Singaporean and regional stocks.
Car owners could consider switching to lower-grade fuel to rein in costs, but this is a temporary measure at best, given the increased need for servicing and maintenance that poorer quality fuel may bring about.Related:A report by UBS-Credit Suisse found that total household wealth in Singapore grew by 7.2% in 2022, while the average household saw its financial standing grow 6.3% per adult.
The report pointed to inflation and the strength of the US Dollar as main factors in the declines. It also noted that stocks and currency deposits contributed most to global wealth declines, while non-financial ones like property stayed resilient amid high interest rates.More sceptical readers may scoff at the findings, believing that it’s simply a case of “the rich getting richer”.
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