RHB Bank Singapore analysts have downgraded Singapore’s banks to “neutral” from “overweight”, as a “subdued macro outlook weights on prospects”.
The analysts have also downgraded Oversea-Chinese Banking Corporation (OCBC) and United Overseas Bank (UOB) to “neutral” from “buy”, while keeping “buy” on DBS Group Holdings.
US President Donald Trump’s reciprocal tariffs have injected further uncertainty into the market, write the analysts in an April 22 note, but the pause “provides investors with a reprieve and an opportunity to reposition”.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.