The counter-attack begins
The stock market is forward-looking. It tends to reflect the real economy one to two quarters in advance. Over the last couple of weeks, various countries in Asia have been discussing to launch green lanes and travel bubbles. The Singapore government is also planning to take the nation into Phase 3 re-opening. All positive developments.
Just as I anticipated, the local residential property market will be one of the leading sectors as the economic recovery gets into full-steam. And we all know the property market and banking sector work hand-in-hand. More housing sales potentially translate to loan growth for the banks. Younger workers in IT/Tech sectors and civil servants with more stable income have been driving up demand in the local property market. With the largest market share, my playmaker (Propnex) shall be leading the counter-attack with the forwards (DBS, UOB & OCBC). Even after the pandemic is gone,...