Nervous sentiment of younger investors

Higher expenses: A man walks through a park next to financial business district in Singapore. Respondents in a survey say they will not be scaling back their long-term investments despite the high cost of living in the city-state. — Bloomberg

SINGAPORE: Singapore’s planned goods and services tax (GST) hike starting next year and rising property prices were among the top concerns of investors in their 20s, according to a survey released by Singapore-based digital wealth adviser Endowus.

The survey, which involved 680 participants across all age groups, showed that 58% of respondents between 21 and 29 were concerned over the imminent GST rate hike. Respondents in this age group were either still finishing up their education or just starting off in their careers and growing their savings and investment portfolios.