Strategy: UOBK sees selective opportunities following yday’s 2% selldown in the STI. Says STI’s longer term uptrend still intact; sees firm support at 3060 with scope to retest prior peak near 3310 once the index rebounds…
Recommends DBS, SIA given the alignment of technical and fundamental analysis. Says both are low risk, with support at $13.62, $15.20 respectively.
Top picks are OCBC, StarHub, M1, K-REIT, AREIT, Swiber, Ezra, ART and CDREIT.
Stocks with Buy ratings, but fell >3% yday: City Dev, Ezra, Genting SP, Olam, IndoAgri, Cosco, First Resources and Ezion.