JP Morgan Prefers DBS, Downgrades UOB To Neutral

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JP Morgan Prefers DBS, Downgrades UOB To Neutral

Edge03-25

In a recent bank report, JP Morgan expects "the factor rotation underway with moves in US$ (down 4.2% YTD) as well as wider growth differential between US and the rest of the world" to continue.

"In the next 6-12 months, we expect Singapore banks to trade in a range, and be a funding source on a rally. Indonesian banks may have risk of weakness, if liquidity remains tight. Thai banks are likely going to outperform, with lower NPL formation and higher payout driving them," JPM says.

Specifically for Singapore, JP Morgan points out that three-month Sora has fallen by 100 basis points (bps) in the last six months. “The Monetary Authority of Singapore targets nominal effective exchange rate (NEER), hence the domestic rates reflect weighted average cuts across trading partners. Singapore dollar depreciation can accelerate this trend,” JP Morgan says.

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Kenchin
·03-28 10:07
Tikam
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GimaGO
·03-26
Out of the 3 local banks, UOB underperformed. Any specific reason(s) why so?
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Thai banks are likely going to outperform, with lower NPL formation and higher payout driving them,&#34; JPM says. </p><p>Specifically for Singapore, JP Morgan points out that three-month Sora has fallen by 100 basis points (bps) in the last six months. “The Monetary Authority of Singapore targets nominal effective exchange rate (NEER), hence the domestic rates reflect weighted average cuts across trading partners. Singapore dollar depreciation can accelerate this trend,” JP Morgan says.</p><p></p></body></html>","source":"lsy1655096814160","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>JP Morgan Prefers DBS, Downgrades UOB To Neutral</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJP Morgan Prefers DBS, Downgrades UOB To Neutral\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-03-25 15:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theedgesingapore.com/capital/brokers-calls/jp-morgan-prefers-dbs-downgrades-uob-neutral><strong>Edge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In a recent bank report, JP Morgan expects \"the factor rotation underway with moves in US$ (down 4.2% YTD) as well as wider growth differential between US and the rest of the world\" to continue. \"In ...</p>\n\n<a href=\"https://www.theedgesingapore.com/capital/brokers-calls/jp-morgan-prefers-dbs-downgrades-uob-neutral\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://www.theedgesingapore.com/capital/brokers-calls/jp-morgan-prefers-dbs-downgrades-uob-neutral","article_id":"1175371633","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1175371633","pubTimestamp":1742889154,"columns":[{"name":"Institution Rating","id":27,"label_key":"rating"}],"sourceInfo":{"source_id":"lsy1655096814160","name":"The Edge Singapore"},"weMediaInfo":null,"summary":"In a recent bank report, JP Morgan expects \"the factor rotation underway with moves in US$  as well as wider growth differential between US and the rest of the world\" to continue.\"In the next 6-12 months, we expect Singapore banks to trade in a range, and be a funding source on a rally. 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Thai banks are likely going to outperform, with lower NPL formation and higher payout driving them,\" JPM says. Specifically for Singapore, JP Morgan points out that three-month Sora has fallen by 100 basis points (bps) in the last six months. “The Monetary Authority of Singapore targets nominal effective exchange rate (NEER), hence the domestic rates reflect weighted average cuts across trading partners. 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Thai banks are likely going to outperform, with lower NPL formation and higher payout driving them,&#34; JPM says. </p><p>Specifically for Singapore, JP Morgan points out that three-month Sora has fallen by 100 basis points (bps) in the last six months. “The Monetary Authority of Singapore targets nominal effective exchange rate (NEER), hence the domestic rates reflect weighted average cuts across trading partners. Singapore dollar depreciation can accelerate this trend,” JP Morgan says.</p><p></p></body></html>","source":"lsy1655096814160","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>JP Morgan Prefers DBS, Downgrades UOB To Neutral</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJP Morgan Prefers DBS, Downgrades UOB To Neutral\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-03-25 15:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theedgesingapore.com/capital/brokers-calls/jp-morgan-prefers-dbs-downgrades-uob-neutral><strong>Edge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In a recent bank report, JP Morgan expects \"the factor rotation underway with moves in US$ (down 4.2% YTD) as well as wider growth differential between US and the rest of the world\" to continue. \"In ...</p>\n\n<a href=\"https://www.theedgesingapore.com/capital/brokers-calls/jp-morgan-prefers-dbs-downgrades-uob-neutral\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.theedgesingapore.com/capital/brokers-calls/jp-morgan-prefers-dbs-downgrades-uob-neutral","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175371633","content_text":"In a recent bank report, JP Morgan expects \"the factor rotation underway with moves in US$ (down 4.2% YTD) as well as wider growth differential between US and the rest of the world\" to continue. \"In the next 6-12 months, we expect Singapore banks to trade in a range, and be a funding source on a rally. Indonesian banks may have risk of weakness, if liquidity remains tight. Thai banks are likely going to outperform, with lower NPL formation and higher payout driving them,\" JPM says. Specifically for Singapore, JP Morgan points out that three-month Sora has fallen by 100 basis points (bps) in the last six months. “The Monetary Authority of Singapore targets nominal effective exchange rate (NEER), hence the domestic rates reflect weighted average cuts across trading partners. Singapore dollar depreciation can accelerate this trend,” JP Morgan says.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":417615071850600,"gmtCreate":1742955974405,"gmtModify":1742955978649,"author":{"id":"4098956206649210","authorId":"4098956206649210","name":"GimaGO","avatar":"https://static.tigerbbs.com/acbaf394d1f80b0a17e1d6fb7623c697","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"4098956206649210","authorIdStr":"4098956206649210"},"htmlText":"Out of the 3 local banks, UOB underperformed. Any specific reason(s) why so?","listText":"Out of the 3 local banks, UOB underperformed. Any specific reason(s) why so?","text":"Out of the 3 local banks, UOB underperformed. Any specific reason(s) why so?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/417615071850600","repostId":1175371633,"repostType":2,"repost":{"id":"1175371633","kind":"news","pubTimestamp":1742889154,"share":"https://ttm.financial/m/news/1175371633?lang=&edition=full_marsco","pubTime":"2025-03-25 15:52","market":"sg","language":"en","title":"JP Morgan Prefers DBS, Downgrades UOB To Neutral","url":"https://stock-news.laohu8.com/highlight/detail?id=1175371633","media":"Edge","summary":"In a recent bank report, JP Morgan expects \"the factor rotation underway with moves in US$  as well as wider growth differential between US and the rest of the world\" to continue.\"In the next 6-12 months, we expect Singapore banks to trade in a range, and be a funding source on a rally. Indonesian banks may have risk of weakness, if liquidity remains tight. Thai banks are likely going to outperform, with lower NPL formation and higher payout driving them,\" JPM says.Specifically for Singapore, JP","content":"<html><head></head><body><p>In a recent bank report, JP Morgan expects &#34;the factor rotation underway with moves in US$ (down 4.2% YTD) as well as wider growth differential between US and the rest of the world&#34; to continue. </p><p>&#34;In the next 6-12 months, we expect Singapore banks to trade in a range, and be a funding source on a rally. Indonesian banks may have risk of weakness, if liquidity remains tight. Thai banks are likely going to outperform, with lower NPL formation and higher payout driving them,&#34; JPM says. </p><p>Specifically for Singapore, JP Morgan points out that three-month Sora has fallen by 100 basis points (bps) in the last six months. “The Monetary Authority of Singapore targets nominal effective exchange rate (NEER), hence the domestic rates reflect weighted average cuts across trading partners. Singapore dollar depreciation can accelerate this trend,” JP Morgan says.</p><p></p></body></html>","source":"lsy1655096814160","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>JP Morgan Prefers DBS, Downgrades UOB To Neutral</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJP Morgan Prefers DBS, Downgrades UOB To Neutral\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-03-25 15:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theedgesingapore.com/capital/brokers-calls/jp-morgan-prefers-dbs-downgrades-uob-neutral><strong>Edge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In a recent bank report, JP Morgan expects \"the factor rotation underway with moves in US$ (down 4.2% YTD) as well as wider growth differential between US and the rest of the world\" to continue. \"In ...</p>\n\n<a href=\"https://www.theedgesingapore.com/capital/brokers-calls/jp-morgan-prefers-dbs-downgrades-uob-neutral\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.theedgesingapore.com/capital/brokers-calls/jp-morgan-prefers-dbs-downgrades-uob-neutral","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175371633","content_text":"In a recent bank report, JP Morgan expects \"the factor rotation underway with moves in US$ (down 4.2% YTD) as well as wider growth differential between US and the rest of the world\" to continue. \"In the next 6-12 months, we expect Singapore banks to trade in a range, and be a funding source on a rally. Indonesian banks may have risk of weakness, if liquidity remains tight. Thai banks are likely going to outperform, with lower NPL formation and higher payout driving them,\" JPM says. Specifically for Singapore, JP Morgan points out that three-month Sora has fallen by 100 basis points (bps) in the last six months. “The Monetary Authority of Singapore targets nominal effective exchange rate (NEER), hence the domestic rates reflect weighted average cuts across trading partners. Singapore dollar depreciation can accelerate this trend,” JP Morgan says.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":2,"commentSize":2,"repostSize":2,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}