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Singapore's GIC wary of vaccine optimism amid market boom

Investment chief expects recovery in 2021 and easing in US-China tensions

GIC invests globally, with the U.S., Asia and Europe accounting for 34%, 32% and 19% of its assets, respectively.   © Reuters

SINGAPORE -- While the global economy is expected to rebound from the COVID-19 pandemic in 2021 and stock markets are already heating up, Singapore state fund GIC -- one of the world's biggest institutional investors -- is keeping to a watchful stance on the market outlook.

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