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

• 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.

Kee Yan YEO CMT DBS Group Research | Fang Boon FOO DBS Group Research | https://www.dbs.com/insightsdirect/ 2025-07-04

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