- We lift 2023 year-end target of the Straits Times Index (STI) to 3,700 – China’s reopening has come 6 months earlier since our 3,600 target was introduced in early Dec 2022. PM Lee’s recent message that Singapore can avoid a recession has debunked some economists’ warning of one. STI should not trade below 3,300 again in the foreseeable future as this level coincided with ‘recession valuation’.
- - Read this at SGinvestors.io -
Earnings and SG Budget 2023
- 4Q22 results season comes to focus in February. Singapore stocks under our coverage are expected to deliver 20.8% earnings growth in FY22F led by banks, reopening beneficiaries and selective technology stocks. The 2023 Budget Statement will be delivered on 14 Feb. Any additional support packages to alleviate higher cost of living should benefit grocer Sheng Siong (SGX:OV8) and suburban retail REIT Frasers Centrepoint Trust (SGX:J69U).
- - Read this at SGinvestors.io -
5 Singapore stocks with positive earnings drivers
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Kee Yan YEO CMT DBS Group Research | Janice CHUA DBS Research | https://www.dbs.com/insightsdirect/ 2023-01-31
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