Upgrade to POSITIVE on China + ASEAN growth
- - Read this at SGinvestors.io -
- Concurrently, the sector is poised to benefit from a confluence of positive catalysts from rising regional credit demand, the Johor-Singapore Special Economic Zone and an AUM base converting from fixed deposits to wealth management products commanding higher fees.
- Upcoming 3Q24 results (see earnings calendar) should show slower than previously expected NIM contraction and a pick-up in fees with a backdrop of solid asset quality.
Past China stimuli had positive effects
- - Read this at SGinvestors.io -
- When we look at past stimulus measures in Nov 2009 and in 2015, we note a subsequent growth in loan momentum in the North Asian operations of the Singapore banks.
- Read more at SGinvestors.io.
Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.
Thilan Wickramasinghe Maybank Research | https://www.maybank.com/ 2024-10-14
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