RHB, OCBC say stocks looking attractive

Singapore

AS outlook reports on 2016 roll out, two local brokers are calling investors to opportunities in the Singapore market, saying valuations are getting attractive.

In a Dec 1 report, RHB Research upgraded the Singapore stock market to "overweight" from "neutral", saying it expects the market to rebound modestly in the second half of 2016.

It gave a bottom up Straits Times Index (STI) target of 3,200 points, or 13.3 times 2016 forecast earnings.

OCBC Investment Research said in a Dec 1 report, meanwhile, that at 11.9 times 2016 forecast earnings, 1.1 times book value and a dividend yield of 4.3 per cent, t…