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Banks, property could be losers from S'pore budget


Proposals will likely focus on aviation, tourism sectors
SINGAPORE: Equity investors expecting a big boost for Singapore’s benchmark index from its upcoming annual budget could be disappointed: heavyweight blue chips are unlikely to benefit from government largess.
Aimed at reversing the nation’s worst economic contraction since it became independent in 1965, tomorrow’s budget is set to focus on the pandemic-hit travel sector or firms with mandates in line with green or digital initiatives, say analysts.
That’s bad news for the benchmark Straits Times Index, which has risen 2.9% so far this year.
The gauge has significantly underperformed the broader MSCI Asia Pacific Index even though Singapore has managed to contain the spread of the virus. ....

Carmen Lee , Kee Yan Yeo , Thilan Wickramasinghe , Phillip Securities Pte Ltd , Jumbo Group Ltd , No Signboard Holdings Ltd , City Developments Ltd , Singapore Airlines Ltd , Mapletree Commercial , Sheng Siong Group Ltd , Capitaland Ltd , Engineering Co , Genting Singapore Ltd , Chinese Banking Corp , St Engineering Ltd , Mandarin Oriental International Ltd , Group Holdings Ltd , Maybank Kim Eng Securities Pte Ltd , Straits Times Index , Pacific Index , Maybank Kim Eng Securities Pte , Jobs Support Scheme , Mandarin Oriental International , Mapletree Commercial Trust , Oversea Chinese Banking , Phillip Securities ,

Banks, Property Stocks Could be Losers From Singapore's Budget


Banks, Property Stocks Could Be Losers in Singapore’s Budget
Bloomberg
2/15/2021
Ishika Mookerjee and Abhishek Vishnoi
(Bloomberg) Equity investors expecting a big boost for Singapore’s benchmark index from its upcoming annual budget could be disappointed: heavyweight blue chips are unlikely to benefit from government largesse.
Aimed at reversing the nation’s worst economic contraction since it became independent in 1965, Tuesday’s budget is set to focus on the pandemic-hit travel sector or firms with mandates in line with green or digital initiatives, say analysts.
That’s bad news for the benchmark Straits Times Index, which has risen 3.5% so far this year. The gauge is lagging the broader MSCI Asia Pacific Index by six percentage points even though Singapore has managed to contain the spread of the virus. ....

Carmen Lee , Maybank Kim Eng , Kee Yan Yeo , Thilan Wickramasinghe , Jumbo Group Ltd , Engineering Co , No Signboard Holdings Ltd , Genting Singapore Ltd , City Developments Ltd , Singapore Airlines Ltd , St Engineering Ltd , Chinese Banking Corp , Mapletree Commercial , Mandarin Oriental International Ltd , Group Holdings Ltd , Sheng Siong Group Ltd , Capitaland Ltd , Straits Times Index , Pacific Index , Bloomberg Top Guns , Phillip Securities , Maybank Kim Eng Securities , Jobs Support Scheme , Genting Singapore , Mandarin Oriental International , City Developments ,