Citi Research Takes Cyclical Bias to Sector Preferences in Singapore Equity Market -- Market Talk

Dow Jones07-24

0627 GMT - Citi Research takes a cyclical bias to sector preferences in Singapore's equity market, given an expected looser monetary-policy outlook in the U.S., the bank's analysts say in a research report. For 2H, communications services, banks and property plays should be better placed amid potential Fed rate cuts, while industrials and consumer plays are likely to continue to underperform, the analysts say. Citi removes City Developments and SATS from its top picks, replacing them with Keppel DC REIT and Keppel. It keeps Singtel, DBS Group and Sea among its preferred names. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

July 24, 2024 02:27 ET (06:27 GMT)

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Citi removes City Developments and SATS from its top picks, replacing them with Keppel DC REIT and Keppel. It keeps Singtel, DBS Group and Sea among its preferred names. 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