Singapore Market Focus - DBS Research 2025-07-25: Riding The Liquidity Wave

DBS Research Raises STI Target to 4430; Warns of August Dip

Published:
Singapore Market Focus - DBS Group Research  | SGinvestors.io
  • The Straits Times Index (STI)’s breakout above the 4,000 level marks an end to a 17-year stalemate from 2007 to 2024. Yet, Singapore equities remain relatively under-owned by historical measure.
  • - Read this at SGinvestors.io -

Attractive from a dividend yield and P/B perspective

  • While the STI does not stand out from a growth perspective – forecasting low-single-digit earnings growth in FY25F (+3.2% y-o-y) and FY26F (+4.3% y-o-y), largely weighed down by heavyweight banks – it remains attractive for its high dividend yield of around 5% and compelling P/B valuation of 1.34x, the most attractive among developed economy indices.
  • - Read this at SGinvestors.io -

August pullback in the STI.

  • Read more at SGinvestors.io.



Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.



Sachin MITTAL DBS Group Research | https://www.dbs.com/insightsdirect/ 2025-07-25



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