Investors urged to "sell Singapore, buy Taiwan" : Citigroup

Investors have been urged to 'sell Singapore' and put their money into Taiwan, a US bank's strategy report said on Tuesday [26 Jun 2007]. In a turn-about in the bank's own position, Citigroup Research said Singapore is currently an expensive market in both an asset and cash-flow basis.

'Singapore has many things going for it,' said chief Asia Strategist Markus Rosgen. 'The equity market is not one of them.' In a recommendation running counter to market consensus, Rosgen called for a 'buy' on Taiwan. Regarding Singapore, Rosgen said the price to book value is currently the highest it has ever been since 1990. 'We have enjoyed the ride,' he said. 'It's time to get off.'

- It's kind of weird to hear Citigroup turn contrarian, isn't it? But the STI does seem to be having problems going above 3600 these days.

(2007-07-05 12:48:31 SGT) [Biz] Permalink

Comments:

Post a Comment:

Comments are closed for this entry.

« Gazprom bid to cut... | Main | Over 20 UK MPs and... »

Most popular blog postings on lowem.log :

1. Singapore SIBOR interest rates fall to 1.5%, lowest since Dec 2004
2. Singapore SIBOR rate falls to 1.31%, lowest since Nov 2004
3. Live spot gold price quotes chart on COMEX
4. Fuel prices seen stoking Malaysia inflation in 2008
5. 2010 Honda Civic Hybrid preliminary specifications released
6. Singapore SIBOR rate fell to 1.25% in Apr 2008, lowest since Aug 2004
7. Malaysia inflation rate jumps to 7.7% in Jun 2008, a 26-year record high
8. Singapore : electricity tariffs to increase April 2008 on rising oil prices

Featured articles on lowem.log :

1. ABC Guide to Beating Inflation in Singapore and Elsewhere
2. Singapore inflation rate hits new 26-year high of 7.5% in Apr 2008
3. Singapore : Bread price inflation continues
4. 2010 Honda Civic Hybrid preliminary specifications released
5. Peakoiler buys 2008 Honda Civic Hybrid FD3
6. How to insert currency exchange rates into Google Spreadsheets
7. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004
8. Singapore : Inflation erodes away bank savings