- We think SingTel's share price may have run ahead of its fundaments. We replaced DBS (SGX:D05) with UOB (SGX:U11) for our Singapore stock top picks after the sterling performance of DBS's share price this year.
- - Read this at SGinvestors.io -
3Q24 Market Review:
- Singapore equities marked a milestone by reaching a 17-year high on 23 September. Buy-and-hold investors can breathe a sigh of relief after 17 years. The market is up 10.6% this year, still 9% shy of the record achieved in October 2007.
- - Read this at SGinvestors.io -
4Q24 Market Outlook:
- We expect further easing by the Federal Reserve in 4Q24. Another two rate cuts is the base case. It is similar to the Fed’s economic projections. Market expectations are three rate cuts this year and another four in 2025. There is merit for more rate cuts.
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Paul Chew Phillip Securities Research | https://www.stocksbnb.com/ 2024-10-03
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