- Another month of solid share price performance by banks saw the STI gain 1.3%, which was 2.3ppt better than our Singapore Stock Alpha Picks December 2024 portfolio on an equal-weighted basis.
- - Read this at SGinvestors.io -
Market review.
- The US Federal Open Market Committee’s 25bp interest rate cut on 18 Dec 2024 (new target range of 4.25-4.50%) was widely expected. After this cut, the “higher-for-longer” interest rate narrative took hold, potentially supporting Singapore banks’ earnings and share prices in 2025. However, global stock markets were largely weaker to close out 2024.
Solid beat.
- - Read this at SGinvestors.io -
- For 2024, our portfolio was similarly strong, up 37.0% and easily beating the STI by 20.1ppt on a price-weighted basis.
Strong performance of alpha picks from industrials.
- 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/.
Singapore Research UOB Kay Hian Research | https://research.uobkayhian.com/ 2025-01-02
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