- We remain neutral on the Straits Times Index (STI) and forecast a 2024 year-end index level of 3,350 (3,380 previously) using a top-down methodology and based on 5.1% y-o-y earnings growth, and target P/E and P/B of 14.3x and 1.2x respectively.
- - Read this at SGinvestors.io -
- Our current forecasts have incorporated lower NIMs for banks which we believe are protected by their high dividend yields.
On your marks, get set…
- Given directionally correct economic indicators in the past few months (e.g. cooling inflation, weaker labour market), comments from US Federal Reserve Chairman Jerome Powell at the Jackson Hole Economic Symposium on 23 August suggest a potential shift in the US Federal funds rate.
- - Read this at SGinvestors.io -
Positive for REITs, property-related stocks and highly geared companies…
- 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/.
Adrian LOH UOB Kay Hian Research | Singapore Research Team UOB Kay Hian | https://research.uobkayhian.com/ 2024-08-26
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