- Singapore’s markets have “done really badly” so far in 2020 and are currently “undervalued,” according to UBS Global Wealth Management’s Kelvin Tay.
- In particular, he noted that major banks dominating the index are “trading close to book valuations” — a “signal” to be buying into the country’s market.
Rounding up top reads from around the web, including articles shared by fellow investors in the Financial Horse Facebook Group.
Ant IPO: China’s mighty financial group heads for a mega market debut (BBC)
Chinese financial technology group Ant has unveiled plans for a stock market debut that may raise a record $30bn (£23bn). The company, affiliated with online retail giant Alibaba, says it will sell shares in Hong Kong and Shanghai. The announcement comes amid rising tensions as the Trump administration cracks down on Chinese firms. While many in the West won’t have heard of Ant, it is best known in China for the mobile payments powerhouse Alipay.
Singapore’s market is ‘undervalued’ at the moment, says UBS (CNBC)
