Singapore Stock Alpha Picks (March 2024) - UOB Kay Hian 2024-03-04: Outperformance Led By Small/Mid-Caps; Add Riverstone; Remove SATS, Valuetronics

• Although the STI recorded a decline of 0.4% m-o-m in Feb 24, more than half of our picks, especially the small/mid-caps (Frencken, Marco Polo Marine and Food Empire), recorded decent gains. Our Singapore Stock Alpha Picks (February 2024) portfolio rose 1.6% m-o-m on an equal-weighted basis, outperforming the FSSTI by 2.0ppt.
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Market review.

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• Manufacturing activity for Feb 24 was also due last week, which would help gauge the health of the US economy. Following an increase in macroeconomic uncertainty, the STI fell 0.4% m-o-m in Feb 24.

Continued beat in 2024.

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Above is an excerpt from a report by UOB Kay Hian Research.
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