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After the Magnificent Seven, a broadening rally

Energy and healthcare are beneficiaries of the equities rally. Instead of staying in cash, opt for bonds

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    • GLP-1 drugs such as Ozempic are giving the healthcare sector a shot in the arm.
    • GLP-1 drugs such as Ozempic are giving the healthcare sector a shot in the arm. PHOTO: REUTERS

    Hou Wey Fook

    Published Tue, May 7, 2024 · 05:57 PM

    SPRING in Japan is synonymous with the sakura. Also known as the cherry blossom, it blooms first in Kyushu, before creeping northwards and eventually blanketing the whole country in a carpet of pink.

    The market’s rip-roaring rally in 2023 was primarily driven by the Magnificent Seven, a bag of stocks comprising Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla.

    Just as the cherry blossoms of Kyushu herald the islandwide sakura season in Japan, the DBS Chief Investment Office believes that 2023’s tech-led surge is an early indication of a broadening market rally this year, with the energy and healthcare sectors as particular beneficiaries.

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