Morgan Stanley upgrades Singapore banks to overweight
It sees boost from stronger return on equity, earnings visibility and relative dividend yield
Singapore
ANALYSTS from Morgan Stanley (MS) have upgraded Singapore financials to "overweight" on the back of stronger return on equity (ROE), earnings visibility and relative dividend yield, according to the Morgan Stanley Research's 2020 Asia EM Equity Strategy Outlook report.
With the stabilisation of gross domestic product (GDP) and less downward pressure on rates, Singapore banks are well supported and should benefit from growth in book value and dividend yields of around 4.5 per cent, noted the report.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
EU toughens rules on Chinese fashion retailer Shein
Keppel prices 70 million euros of floating-rate notes due 2031
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Shareholders raise questions over dividend payout, directors’ salaries at Best World AGM ahead of proposed privatisation
China’s Bank of Communications Q1 profit rises 1.44%
Huawei’s smart car tech offers automakers route to China sales