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‘Neutral’ outlook for Singapore market, says DBS

Zavier Ong Published on Wed, Jun 29, 2016 / 3:47 PM GMT+8

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SINGAPORE (June 29): DBS is maintaining its “neutral” outlook for the Singapore market, with a year-end target for the benchmark Straits Times Index (STI) at close to 2,950, according to a report dated Tuesday.

This assessment comes against the backdrop of market volatility marked by events such as the June Fed meeting, the MSCI China ‘A’ share decision and Brexit.

Brexit in particular, continues to weigh on market sentiments in Singapore. The landmark referendum that saw Britain vote to leave the EU has affected the local market through “financial market volatility transmission, and growth concerns intensifying,” says DBS analyst Joanne Goh.

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‘Neutral’ outlook for Singapore market, says DBS