The UOB Kay Hian team highlights that the Singapore market has performed “extremely well” year to date, having increased 8.8% as of June 22, compared to mixed performances from other regional Asian markets, with the exception of Thailand. They expect this upwards trend to continue as the global economic backdrop picks up and Singapore's restrictions ease.
UOB Kay Hian remains bullish on Singapore equities despite a potentially bumpy 2H2021 ahead.
“Although the Asian region faces a more bumpy recovery post Covid-19, we believe the STI has tailwinds from Singapore’s robust GDP growth and positive sentiment from the re-opening,” says analyst Adrian Loh and the Singapore research team in a June 28 research note.
