“As one of the few countries in Asia unlikely to impose capital controls, the Singapore market is poised to benefit from the easier global liquidity environment in 2011,” says Nomura strategist Jit Soon Lim, against backdrop of what looks like attractive valuations (14x P/E, 11% market EPS growth, dividend yield of 3%).
 

House bullish on banks, which have “started to stir from their undervalued positions, with OCBC (O39.SG) rerating strongly in 4Q10...This momentum will continue, underpinned by regional growth and steady NIMs in 2011.”