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Banks clear winners amid disappointing Q3

Analysts tell BT that the fairly valued Singapore market may underperform Asean peers, while North Asia is most attractive

Published Fri, Nov 15, 2013 · 10:00 PM

Singapore

LOCAL banking groups DBS Group Holdings, OCBC Bank and United Overseas Bank (UOB) have stood out as clear winners amid a slightly disappointing third-quarter earnings cycle for Singapore-listed companies, said investment research houses interviewed by The Business Times.

Disappointments in the shipping, industrial, consumer and commodity segments came from the likes of Neptune Orient Lines (NOL), Singapore Technologies Engineering, Super Group and Golden Agri-Resources, all of which missed earnings expectations. Also disappointing was developer City Developments.

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