- We added ST Engineering and SingTel to the Phillip Absolute 10 model portfolio for Singapore stocks in 4Q23 as growth and re-rating plays, respectively.
- - Read this at SGinvestors.io -
- Sluggish equity and derivatives volumes will remain an overhang to SGX's share price despite surging interest income.
3Q23 Market Review:
- - Read this at SGinvestors.io -
- Banks recouped most of their losses in the prior quarter after raising interim dividends by 40%. The best performers were commodity-related names.
- The largest drags were weakness in electronics and poor sentiment on China’s recovery.
4Q23/2024 Market Outlook:
- We expect a far slower US economy in 2024. To short-circuit the upcoming drag will require another round of stimulus. But we don’t think there will be more because the politics of austerity has returned after two sovereign downgrades and threats of government shutdowns.
- The US economy has been propped up by an additional US$1tr of fiscal deficit spending, bank bailouts and surging credit card debt. We see multiple upcoming headwinds for the US and global economies.
- Read more at SGinvestors.io.
