Singapore - Market Strategy 01 (Nov 14 - Dec 25)

[winston]

Singapore Strategy: Ripples from China, HK; NEUTRAL

Chinese & HK markets have soared on liquidity flows. HK’s rally started eight months after China’s.

Could wash to Singapore’s shores if both rallies are sustained. For now, still cautious. Prefer to fall back on fundamentals.

Still NEUTRAL on market with unchanged 2015 FSSTI target of 3,440, at 14x 2015 EPS.

Singtel and SIIC removed from BUY list and replaced by Ho Bee and Wing Tai.

A-reit and CapitaMall Trust added to SELL list after initiations.

Source: Kim Eng

[winston]

Top Singapore Stocks to Play China’s Boom

Why DBS Vickers likes China Merchant and Yangzijiang, and prefers developers with exposure to China.

Source: DBS VICKERS SECURITIES

http://online.barrons.com/articles/top- ... 1432607527

[winston]

STRATEGY:

We have a year-end target of 3,660 for the FSSTI and think investors should adopt a selective approach on limited earnings visibility and external uncertainties such as weaker growth in and rising interest rates in 2H15.

Upside is likely limited as FSSTI’s FY15F PE of 14.8x is at a small 5% discount to long-term mean valuation of 15.5x.

Investment themes we favour include:
a) regional growth beneficiaries,
b) regulatory changes,
c) deep value stocks/strong recurrent earnings, and
d) compelling business models.

BUYs in the large-cap space include DBS, OCBC, CapitaLand, CCT, SingTel, SATS, First Resources and Sembcorp Industries.

In the mid-cap space, we like Wing Tai and Ezion.

Our SELLs include SIA Engineering, StarHub, Nam Cheong and IHH.

http://research.uobkayhian.com/content_ ... 7e27ff55f3

[behappyalways]

Singapore bourse boasts region's highest dividend yields
http://sbr.com.sg/markets-investing/new ... end-yields

[behappyalways]

These highly-indebted corporates will be at risk once interest rates rise
http://sbr.com.sg/economy/news/these-hi ... rates-rise

[behappyalways]

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[behappyalways]

News Headlines
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