Brokers' take
Singapore banking | Overweight UOB Kay Hian, Nov 1
LOAN growth for domestic lending picked up from 5.1 per cent year on year in August to 6.2 per cent year on year in September. Growth in low-cost savings and demand deposits was healthy at 7.8 per cent and 4.5 per cent year on year respectively. Growth in foreign currency loans was also robust at 10.3 per cent year on year. Interest rates should be marching higher again as the US Federal Reserve is widely anticipated to hike Fed funds rate by another 25 basis points in December 2017. Our top pick is OCBC, followed by DBS.
Sembcorp Marine | Buy Target price: S$2.26 Nov 1 close: S$2.01 OCBC Investment Research, Nov 1
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Nestle sales growth sputters on US slump, vitamin snags
BNP Paribas beats estimates as lower costs offset trading slump
TikTok ultimatum puts US firms in firing line for China response
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race
BHP targets Anglo American in bid valuing miner at US$39 billion
FTSE 100 hits record high on big mining M&A, earnings push