Financials shine in 2014; outlook positive this year

Singapore

FINANCIAL firms outperformed the broader market last year, with the FTSE ST Financials Index notching up 10.3 per cent in price gains, data from the Singapore Exchange (SGX) showed. This compares with the 6.2 per cent rise in the benchmark Straits Times Index (STI) in 2014.

And despite a sell-off in banks in the past few days, analysts are still optimistic in their outlook for the sector this year.

The FTSE Financials Index is made up of 58 stocks, including 10 STI firms - such as the three local banks, Singapore Exchange, Hongkong Land, CapitaLand, CapitaMall Trust and…