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.
