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IMF says world economy plateauing; SPH, Keppel family reporting this week

Samantha Chiew
Samantha Chiew10/15/2018 07:30 AM GMT+08  • 3 min read
IMF says world economy plateauing; SPH, Keppel family reporting this week
SINGAPORE (Oct 15): The benchmark Straits Times Index skidded to 20-month lows on Oct 11 on the back of a heavy selloff in the US. The STI closed that day 2.7% lower at 3,047.4 points. 
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SINGAPORE (Oct 15): The benchmark Straits Times Index skidded to 20-month lows on Oct 11 on the back of a heavy selloff in the US. The STI closed that day 2.7% lower at 3,047.4 points.

US stocks saw their biggest decline in more than six months on Oct 10 as investors accelerated their retreat from fast-growing technology stocks in favour of shares that have been overlooked, sparked in part by the recent jump in government bond yields and the Federal Reserve’s bid to tighten monetary policy.

Kelvin Tay, regional chief investment officer of UBS Global Wealth Management, maintains an upbeat view. He calls this correction “fairly normal” and believes the bull market is likely to be further extended. “What hasn’t changed over the past week are the solid US economic and earnings fundamentals. With the 3Q earnings season about to start, we expect earnings per share growth of 23% to 24%, very similar to the first two quarters of this year.”

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