(Bloomberg) — Stocks in Singapore appear to be the best-placed in Asia Pacific to benefit from a potential cyclical recovery and success in finding a cure for the coronavirus, analysts say.
Cheap valuations, strong links to the global economy and better control over the virus outbreak are all seen working to the advantage of shares in the city-state, where cyclicals such as financials and real estate command a more than 80% weighting in the benchmark index.
“We rate Singapore one of our most-preferred markets in the region,” backed by “recession valuations” and expectations of an earnings recovery, said Hartmut Issel, head of APAC equities and credit at UBS Global Wealth Management. Read more…..
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Natixis Chief Asia Pacific Economist Alicia Garcia Herrero discusses China’s August PMI gauge and what’s next for Japan after prime minister Shinzo Abe resigned. She spoke to Bloomberg’s Yvonne Man and David Ingles on “Bloomberg Markets: China Open”.