Singapore Strategy - Feedback from Europe marketing We completed our Singapore Navigator marketing in five cities in Europe. Clients generally agreed with our cautious views on Singapore.
Most agreed with our Overweight stance in Transport & Telcos and our Underweight stance in Manfacturing and Property, though significant falls in property stocks triggered queries on entry levels for selected property stocks.
Reception to our bullishness on Multi-Industry was mixed, clients generally agreed that the fundamentals of the sector remained bright though concern stemmed from the relative large ownership levels in this sector. Clients also agreed on our views on Financials - that it was cheap but not time yet. With STI having fallen 14% ytd, valuations are starting to look interesting and we suggest that investors should look for entry levels now rather than continue to pile into defensives.
Quick Takes
- Ascendas REIT (S$2.19) - 3QFY08 results - Record occupancy lifts DPU
- Land Transport Sector - Part 1 of 3: Changes to the bus system
- Global Equity Technicals - The party’s over?
News of the Day
- Genting International in talks to build a hotel in the Sports Hub
- Pacific Healthcare opens fourth integrated specialist centre
- Avery invests $100m in 'upmarket' dorm
- Al-Futtaim makes cash offer for Robinson and Co
- E3, Jade buy 49% of Jilin refinery for 241m yuan
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