Easing inflation, lower infections seen spurring local market in 2022
Phillip Securities sees economic reopening benefitting companies in hospitality, consumer and transport sectors
Add BT as a preferred sourceClaudia Tan HS
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Singapore
A challenging environment lies ahead for Singapore equities amid slowing economic growth and incoming rate hikes but this period of volatility is expected to blow over by the second half of the year as the Covid-19 pandemic and inflationary pressures ease, according to Phillip Securities research head Paul Chew.
The research house has maintained its target for Singapore's benchmark Straits Times Index (STI) at 3,400 - about a 3.6 per cent upside from the 3,281.97 as at Jan 14. The last time the STI touched 3,400 levels was in April 2019.
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