Market Strategy

Market Strategy: CS has strategy report. Expect SG population growth to slow to 1-2% and real GDP growth to slow to about 4%. Expect SG economy would start to pick up in 2H11 after slowdown in 2Q11. Remain positive on export and trade-oriented industrial names. House top picks remains KepCorp, SembMarine, NOL and CDL, while key Underperform ideas are SMRT, ST Engg, StarHub, Suntec and AREIT.