Should Asian investors shun Singapore?

SINGAPORE (Aug 5): HSBC Global Research is downgrading its view on Singapore’s equities from “overweight” to “neutral”.

The research house says that as high-yield corporate bonds have performed much better than regional equities, the divergence suggests that investors remain “very reluctant to discount an Asian earnings recovery into the more distant future”.

Herald van der Linde, HSBC’s head of equity strategy, Asia Pacific, says the issue is that non-performing loans (NPLs) are still rising across the region – Singapore included.

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