"Singapore’s stock index returns are closely correlated with the country’s nominal and real GDP growth. With the worst contraction in Singapore’s GDP growth now behind it, we believe the STI could generate positive returns for next 12 months as economic growth continues to improve."
Although stocks in the transport sector such as Singapore Airlines are expected to remain loss making, these losses are likely to narrow, according to the analyst. Although things are looking up for both companies and investors, Mr Jaiswal warned that downside risks still persist.
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