- Despite a weak year-to-date market performance, the Singapore market is still defensive, and could see a re-rating closer to the end of the year, supported by the services sector’s resilience, a likely pause in interest rate hikes, a manufacturing and exports sector revival, and outperformance of the S$ in the region.
- - Read this at SGinvestors.io -
- Our Straits Times Index (STI) target falls to 3,340 points from the earlier 3,440 points.
The RHB Economics & Market Strategy (RHB EMS) team maintained Singapore’s GDP growth forecast at 2.0% in 2023
- - Read this at SGinvestors.io -
- higher tourism levels and the resilience of the overall services sector should continue to support Singapore’s growth; and
- trade and industrial production data registering growth in 4Q23.
Resilient earnings growth in 2023; downgrades have been slow
- Read more at SGinvestors.io.
Shekhar Jaiswal RHB Securities Research | https://www.rhbgroup.com/ 2023-07-20
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