Middle East Conflict Seen Weighing on Singapore Bank, Aviation-Linked Stocks
Dow Jones
Yesterday
0739 GMT - A prolonged Middle East conflict and higher energy prices could weigh on Singapore stocks in sectors such as banking and aviation, say UOB Kay Hian analysts in a note. They reckon that Singapore lenders' loan growth could slow due to weak business sentiment, aggravated by the Middle East conflict. Meanwhile, the aviation sector is susceptible to rising jet fuel prices, while related companies in the logistics and air cargo supply chains could also be affected by higher fuel prices and freight rates, they add. UOB KH cuts its 12-month target for the benchmark FTSE Straits Times Index from 6682 to 6061. The FTSE Straits Times Index is flat at 5639.72.
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