- 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.
