SINGAPORE: Despite deep cuts in the latest quarterly earnings of Singapore-listed companies and trusts, the worst is now behind them, said DBS Group Research in a market strategy report.
The second-quarter results season had suffered the full impact of global Covid-19 lockdowns, with a sharp 14.9% cut in forecast earnings in financial year 2020 for stocks under DBS’ coverage.
Investor interest is likely to pick up for travel or leisure stocks, lifted by progress in Covid-19 vaccine candidates that are under third-phase trials, noted DBS analysts Yeo Kee Yan and Janice Chua.
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