RHB’s Shekhar Jaiswal in his Sept 8 note says: “We continue to recommend investors hold a core defensive portfolio of higher quality companies or REITs that offer secular earnings growth or defensive dividends, with selective exposure to topical names and small, or mid cap stocks that have strong earnings tailwinds.”
RHB, citing a potential recovery of the broader economy in the last quarter of the year, sees the Singapore market enjoying a re-rerating by the end of the year.
Besides a revival in the manufacturing sector, the potential positive ingredients for Singapore equities include a resilient service sector and a likely pause in interest rate hikes.
