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UOBKH notes impact of sustained Covid-19 outbreak in China, but maintains estimates for STI companies

Lim Hui Jie
Lim Hui Jie3/22/2022 03:42 PM GMT+08  • 3 min read
UOBKH notes impact of sustained Covid-19 outbreak in China, but maintains estimates for STI companies
Will the Covid-19 resurgence in China hit stocks that derive their earnings from there?
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UOB Kay Hian’s analyst Adrian Loh as well as the Singapore research team has maintained their earnings per share (EPS) estimates for the FY2022 on all of the constituents in the Straits Times Index (STI) that are under their coverage.

The team has given “buy” calls to all the counters, which include Oversea-Chinese Banking Corporation (OCBC), Singapore Telecommunications (Singtel), CapitaLand Investment (CLI) and Genting Singapore.

In a Singapore strategy note on March 22, the team writes that it has not made any changes to their forecast despite China seeing a resurgence in the number of Covid-19 cases, as they believe that the current impact would be mild.

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