UBS favours Singapore bank stocks with their Reit-like dividend yields

Singapore

SINGAPORE bank stocks are starting to look more attractive at current levels while its Reits are beginning to look overpriced, said UBS Global Wealth Management in its July CIO Investing in Asia Pacific monthly report.

UBS had started the year being "overweight" on Singapore banks and Reits. The banking sector has underperformed while Reits have outperformed the benchmark index so far this year, said UBS.