- Our Singapore Stock Alpha Picks portfolio for March 2023 easily surpassed the STI by 8.0ppt on an equal-weighted basis in Mar 23. For 1Q23, our portfolio rose 9.1%, materially outpacing the STI’s 0.2% gain.
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
Market review.
- Global investor sentiment took a nosedive in the first half of Mar 23, largely due to the US banking crisis along with the rescue of Credit Suisse. With fears of a broader global financial crisis, the STI index fell sharply in mid-Mar 23, down -4.6% at its lowest point. However, subsequent decisive measures from the US authorities and the US Fed to shore up the financial system eased any remaining bank jitters.
- Also, softer messaging from the US Fed raised expectations for a pause in interest rate hikes, rallying the Nasdaq 100 into a bull market. Similarly, the STI rallied in the second half of Mar 23, ending up just -0.1% lower m-o-m.
Material outperformance of our Singapore stock Alpha Picks in March 2023.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Singapore Research UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-04-04
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