US President Donald Trump’s reciprocal tariffs have injected further uncertainty into the market, write the analysts in an April 22 note, but the pause “provides investors with a reprieve and an opportunity to reposition”.
RHB Bank Singapore analysts have downgraded Singapore’s banks to “neutral” from “overweight”, as a “subdued macro outlook weights on prospects”.
The analysts have also downgraded Oversea-Chinese Banking Corporation (OCBC) and United Overseas Bank (SGX:U11
) (UOB) to “neutral” from “buy”, while keeping “buy” on DBS Group Holdings.
