- STI nears trough valuation, base support at 3194.
- Seek shelter from higher-for-longer rates.
- Opportunity to invest in stocks that show resilience.
Earnings resilience despite macro headwinds.
- Earnings of stocks under our coverage were revised up by 0.5% for FY23F and flat for FY24F in the recently concluded 4Q22 results season. Most delivered in-line earnings despite headwinds from inflation and economic slowdown.
- - Read this at SGinvestors.io -
STI base support at 3194.
- We see little near-term downside post correction in recent weeks. The latest MAS survey of private forecasters showed 2023 median GDP growth forecast held firm at 1.9% (previously 1.8%). Index heavyweight banks should be supported by higher-for-longer rates back in focus again and their ex-dividend dates getting closer. (see Upcoming dividend dates.)
- - Read this at SGinvestors.io -
Shelter from higher-for-longer rates
- 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 | Singapore Research Team DBS Research | https://www.dbs.com/insightsdirect/ 2023-03-10
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