Firstly, I believe MAS will opt for a moderate strengthening of the SGD rather than implementing aggressive monetary policy changes tomorrow. It is challenging to strike a balance between controlling inflation and maintaining stable unemployment levels. Strong SGD is bad for export industry, especially electronic and pharmaceutical sectors.

Lastly, I think the EV automotive, nickel, and solar panel industries stand to benefit from higher energy costs, while most other sectors are likely to be negatively impacted by rising energy expenses.