Brokers' take

Singapore market > Neutral (Downgrade) DBS Group Research, June 16

While Singapore's growth outlook is sanguine with 2.8 per cent GDP (gross domestic product) growth this year and 2.5 per cent in 2018, there are signs that growth has moderated. Recovery in both services and manufacturing sectors has been uneven. Our regional strategist downgraded Singapore to "neutral".

We maintain our view for the Straits Times Index (STI) at 3,274 points as a near-term cap. The trend is turning sideways from 3,185 to 3,275 points. In the event the 3,185 level fails, weakness to 3,130 is seen before the correction ends. A year-end objective of 3,350 points remains possible.