Post Reply
1-2 of 2
Singapore shares were little changed, with several brokers saying they continue to favor oil and gas stocks such as Ezion Holdings Ltd as oil prices are expected to remain favorable for exploration and production activities.
The Straits Times Index was up 0.1 percent at 3,079.72 points. The MSCI index of Asia-Pacific shares outside Japan added 0.6 percent.
DBS Vickers said the Singapore market is cheap on dividend yield and price-to-book ratio compared with the rest of the region, but its earnings and return on equity outlook are less attractive.
Yield compression and a slower second half in 2012 are likely reasons to take profit, DBS said. But it noted that the market will continue to be supported by strong yield plays.
Its picks are oil and gas stocks such as Sembcorp Marine Ltd , ASL Marine Holdings Ltd, STX OSV Holdings Ltd and Ezion.
Ezion's stock has more than doubled this year versus the 30.5 percent gain in the FT ST Oil and Gax Index.
Ref : SGX Stock Recommendations