Latest news with #DBSBank
Straits Times
2 days ago
- Business
- Straits Times
Singapore shares end week on high; STI up 0.7%
Find out what's new on ST website and app. Across the broader market, advancers outnumbered decliners 430 to 147, after 2.2 billion securities worth $1.6 billion changed hands. SINGAPORE - The benchmark Straits Times Index (STI) capped a week-long rally to touch a new high on July 18. The STI rose 0.7 per cent, or 28.07 points, to close at 4,189.50, after hitting an intraday peak of 4,192.19. The gains were buoyed by DBS Bank, which hit a high of $47.05 on July 18 morning. It eventually closed 0.7 per cent, or 31 cents, higher at $46.99. Seatrium was the STI's top gainer of the day, rising 5.8 per cent, or 13 cents, to $2.38. The offshore and marine specialist was also the most actively traded counter by volume, with 36.7 million shares worth $85.9 million traded. The biggest decliner was property developer Hongkong Land. The counter fell 1.1 per cent, or seven US cents, to US$6.25. Across the broader market, advancers outnumbered decliners 430 to 147, after 2.2 billion securities worth $1.6 billion changed hands. Regional markets ended July 18 mixed. Australia's ASX 200 jumped 1.4 per cent to a record close of 8,757.20 points, and Hong Kong's Hang Seng Index was up 1.3 per cent. Meanwhile, Japan's Nikkei 225 slipped 0.2 per cent ahead of its Upper House elections this weekend. Top stories Swipe. Select. Stay informed. Singapore 30% of aviation jobs could be redesigned due to AI, automation; $200m fund to support workers: CAAS Singapore HSA looking to get anti-vape cyber surveillance tool with AI capabilities Singapore Alleged Kpod peddler filmed trying to flee raid in Bishan charged with 6 offences Singapore NTU upholds zero grade for student who used AI in essay; panel found 14 false citations or data Singapore Character counts as much as grades: Desmond Lee tells students after a class on race and culture Singapore Residents in South West District get help to improve employability, find career opportunities Life Kinokuniya opens third bookstore at Raffles City, weeks ahead of schedule Business DBS shares rally to a new record as STI clocks yet another high Mr Stephen Innes, managing partner at SPI Asset Management, said that political uncertainty is casting a long shadow over Japan's markets, given that the ruling Liberal Democratic Party-Komeito coalition might fail to secure a majority win in the Upper House.
Bangkok Post
2 days ago
- Business
- Bangkok Post
Investors urged to buy gold as price surges
DBS Vickers Securities recommends investors increase their exposure to gold and reduce their allocation of government bonds from developed economies, predicting the bullion price will hit US$3,765 an ounce by the fourth quarter of this year. Wey Fook Hou, chief investment officer at DBS Bank, noted that the first 100 days of US President Donald Trump's second term sent shockwaves across global markets, especially by escalating a global tariff war. While these moves aim to reposition the US geopolitically, ongoing policy uncertainty is raising the risk premium on American financial assets. In addition, the recent passage of sweeping tax reforms has intensified worries about the long-term fiscal stability of the US. According to the Congressional Budget Office, the US federal budget deficit is projected to reach $1.9 trillion this year, with debt levels rising to 118% of GDP by 2035. Moody's downgrade of US sovereign credit to Aa1, with 30-year bond yields exceeding 5%, underscores rising investor anxiety over the sustainability of US fiscal policy. Trump's "beautiful tariff war" has two main objectives, first to strategically counter China's influence, and also to generate revenue to address mounting national insolvency. "However, even with an aggressive 20% universal import tariff, the net revenue gain after dynamic economic effects would be just $185.2 billion, insufficient even to cover federal interest payments," Mr Wey noted. These fiscal constraints have prompted DBS to revise its investment strategy, he said. For equities, the bank has maintained a neutral stance overall, with expected performance divergence across regions and sectors. Belief in US technology stocks has also stayed intact, with services favoured over goods-based sectors. Meanwhile DBS suggests investors increase their allocation to European and Asia ex-Japan equities, citing fiscal stimulus, attractive dividend yields, and valuation discounts versus developed markets. For fixed income, developed market government bonds were downgraded to neutral amid persistent inflation and fiscal strain. DBS favours high-quality credit with A or BBB ratings, and has adopted a "duration barbell" strategy, focusing on those with 2–3 year and 7–10 year maturities, capital securities, and short-duration high-quality debts. DBS is overweight on alternative assets, especially gold, with a price target of $3,765 an ounce by this year's fourth quarter. The bank also recommends income-generating private equity, including infrastructure, as "a source of resilient returns in a volatile environment". "Investors tracking fiscal risks are expected to shift further away from US and Japanese assets. As capital diversifies from dollar-denominated holdings, Asian local currency bonds are emerging as beneficiaries," Mr Wey said. The US dollar is likely to continue weakening, pressured by inconsistent and controversial policies under the Trump administration. As a result, alternative safe-haven currencies are expected to gain favour, added Mr Wey. Chanpen Sirithanarattanakul, head of research at DBS Vickers Securities (Thailand), expects Thailand's GDP to grow just 1.8% in 2026 if US tariffs are 18%-20%, with a Stock Exchange of Thailand (SET) index estimate of 1,300 points. However, if tariffs stay elevated at 36%, growth could slow to just 1%, and the SET index target would be adjusted, she said. Despite macro challenges, selected Thai sectors remain attractive, including hospitals and telecommunications. The baht is projected to appreciate slightly to 32.8 baht against the greenback this year, and to 32 baht to the dollar in 2026. The brokerage expects Thai interest rates to be cut once or twice this year, with another cut likely in 2026. "Domestic political developments, especially in August and September, as well as US tariff policy, will have a significant impact on investment sentiment," Ms Chanpen noted.
Business Insider
3 days ago
- Business
- Business Insider
Wells Fargo upgraded to Buy from Hold at DBS Bank
DBS Bank analyst Rui Wen Lim upgraded Wells Fargo (WFC) to Buy from Hold with an $88 price target Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Business Insider
3 days ago
- Business
- Business Insider
Citi upgraded to Buy from Hold at DBS Bank
DBS Bank upgraded Citi (C) to Buy from Hold with a $100 price target Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
CNA
4 days ago
- Business
- CNA
Indonesia central bank cuts benchmark rate, welcomes US tariff deal
JAKARTA :Indonesia's central bank cut rates on Wednesday for the fourth time since September and said a revised tariff deal with the United States was positive for Southeast Asia's biggest economy amid weakening global trade and slowing domestic demand. Bank Indonesia (BI) cut the benchmark 7-day reverse repurchase rate by 25 basis points to 5.25 per cent, as expected by a slim majority of economists polled by Reuters, and also cut two other key rates. Governor Perry Warjiyo said the central bank would continue to observe room for more rate cuts, citing an expectation of low inflation through to 2026, a stable rupiah and bleak global economic outlook. "BI is already all out in boosting economic growth, including in supporting loan growth," the governor told a press conference. President Donald Trump's announcement of a tariff deal on Tuesday gave BI another reason to ease monetary policy, some analysts said. "External caution was counterbalanced by the fresh news over the trade deal," DBS Bank senior economist Radhika Rao said. "Policymakers have been opportunistic this year, prudently tapping periods of market stability to lower rates, with the latest move also coming against the backdrop of the successful completion of a trade deal with the U.S." The central bank welcomed the trade deal, where Indonesian exports would incur a 19 per cent tariff instead of the 32 per cent rate initially proposed by Washington, Warjiyo said. The deal was a positive development that would support exports and broader economic prospects as the central bank maintained its GDP growth forecast for 2025 at a range of 4.6 per cent to 5.4 per cent, he said. Warjiyo expressed optimism about Indonesia's export outlook after the revised U.S. tariff deal. "This deal will of course increase imports, but in our view, these are imports for productive purposes, which will in turn increase economic growth going forward," he said, adding certainty from the decision will also help with business decision making and prospects for capital inflows. Sluggish household spending saw Indonesia's growth weaken in the first quarter, while the outlook for subsequent quarters has been clouded by the impact of U.S. tariffs on global trade. In its easing cycle since September, BI had taken pauses in between rate cuts to try to head off volatility in the rupiah triggered by Trump's trade policies and geopolitical tensions, even as Indonesia's inflation remained muted. The rupiah, which has been rangebound so far this month, barely moved after BI's announcement, while the main stock index extended gains to trade almost 1 per cent up. Brokerage Mandiri Sekuritas expects another 25-bp cut this year and 50-bp more in the first quarter of 2026 to counter weakening economic activity, its economist Rangga Cipta said.
