For the second half of this year, the bank has upgraded its rating on Singapore equities to “overweight” given that the benchmark Straits Times Index (STI) was up by some 4.7% due to safe haven flows.
CIMB Group’s chief investment office (CIO) has turned positive on Singapore’s equities after stocks in the city-state’s bourse turned out to be “quite a good performer” in the first half of 2025.
Earlier this year, CIMB had given the Singapore stock market an “underweight” rating due to a lack of catalysts and Singapore’s banks’ shares pricing in the Trump trade. Singapore REITs (S-REITs) were also tipped to underperform at the time, said Ng Boon Hoa, fixed income lead in CIMB’s CIO at the bank’s media day on July 21.
