Goldman downgrades Singapore to "underweight"

Singapore

INVESTMENT bank Goldman Sachs has downgraded the Singapore market to "underweight" while upgrading the Hong Kong market to "market weight" and Indonesia to "overweight".

Timothy Moe, chief Asia-Pacific strategist, said in a media briefing on Tuesday afternoon that the key bank, energy and property sectors in Singapore are more likely to report muted or lower earnings given macroeconomic factors.

"I'm not saying t…