BEARS are shrieking that higher-for-longer interest rates, global economic malaise and escalating regional wars will definitely doom this bull market in Singapore and globally. Wrong.

Markets move on what people do not widely know and watch for: surprises, positive or negative. This year, surprises will net to the upside – shocking everyone, like last year.

Hence, expect moderate double-digit 2024 gains for the Straits Times Index (STI) and world stocks as economic resilience and political tailwinds fuel a good-to-great year. Tech and big growth stocks should lead early – so shop globally – before a mid-year value shift brings a big, beautiful bounce to bank-heavy Singapore.