- 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.
