Cyclical markets likely to do better over next 6 months: asset manager

Singapore

SINGAPORE equities are not very appealing in general right now but bank shares could be worth buying, a Hong Kong-based asset manager said on Wednesday, adding that stocks here could pick up in around six months along with other cyclical markets.

Sean Taylor, chief investment officer for the Asia-Pacific region at Deutsche Asset Management, told a briefing at German lender Deutsche Bank's Singapore office that for Singapore he was "more positive on banks" but still underweight the market, saying that it was still a relatively "lower-growth" market compared with the rest of Asia.