Broking houses upbeat on Singapore market, citing cheap valuations

Singapore

CITING inexpensive valuations, local broking houses are reasonably upbeat about the Singapore market even as international banks are not too enthused.

UOB is targeting the Straits Times Index (STI) to close 9 per cent up from current levels of 3,300 points to 3,600 points by the end of 2015.

"We believe 2015 should see corporate earnings pick up (rising 9.2 per cent year on year) after a lacklustre 2014 and 2013. In o…