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Revisions

Daiwa sees STI ending at 3,040

Daiwa's strategy for 2017

Daiwa sees STI ending at 3,040

PC Lee Published on Fri, Jan 20, 2017 / 4:51 PM GMT+8

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SINGAPORE (Jan 20): Daiwa Capital Markets is sticking to its year-end target of 3,040 for the benchmark Straits Times Index with limited upside.

Earnings are also expected to stage only a modest rebound in 2017 after declining at a faster than expected in 2016.

In its 2017 Singapore strategy report “Bracing for a correction”, lead analyst Ramakrishna Maruvada says the Singapore market looks fairly valued, following the recent rally.