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UOB seeks out oversold stocks in its universe

PC Lee
PC Lee6/28/2018 05:22 PM GMT+08  • 2 min read
UOB seeks out oversold stocks in its universe
SINGAPORE (June 28): UOB KayHian sees value in Singtel, City Developments, CapitaLand Commercial Trust, OCBC, Keppel Corp and Wing Tai within its universe of stocks which have corrected more than 15% from the 52-week high.
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SINGAPORE (June 28): UOB KayHian sees value in Singtel, City Developments, CapitaLand Commercial Trust, OCBC, Keppel Corp and Wing Tai within its universe of stocks which have corrected more than 15% from the 52-week high.

Since its high of 3,615 in early May, the benchmark Straits Times Index has retraced close to 10%. Amplifying the volatility, has been external noise over the US-China trade spat as well as rising interest rates. Market risk premium (MRP) from May 2 till June 27 implies a 81bp rise in MRP to 5.17% during this period, above the long-term mean of 5.0% since 2005..

In UOB’s view, the rise was due to a shift in interest rate hike expectations since the Federal Open Market Committee (FOMC) meeting on 13 June and external concerns over the US/China trade spat, which would have implications on global growth.

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