Broker Name: DBS
Date of Report: (Date not explicitly stated in the document; inferred to be after March 2, 2025, based on referenced trades and context.)

Excerpt from DBS report.

Report Summary

• DBS sees signs that the recent correction in the Straits Times Index (STI) has likely ended, with technical signals like the McClellan Oscillator indicating a short-term market inflection.
• The broker deploys available cash to add positions in Suntec REIT, STI ETF, City Developments, and SATS to capitalize on the market sell-off, expecting STI to bottom at 4,700.
• Suntec REIT is highlighted for its compelling valuation and value-unlocking potential following a change in REIT manager; the target price is set at SGD 1.60.
• The report suggests profit-taking on upstream CPO stocks and defense names after recent gains and rotates Hong Kong exposure from PetroChina to China Eastern Airlines to benefit from lower oil prices.
• DBS notes cautious investor sentiment in Singapore REITs and banks but sees opportunities, especially in mid-cap S-REITs and property developers focused on value-unlocking strategies.

Above is an excerpt from a report by DBS. Clients of DBS can be the first to access the full report from the DBS website : https://www.dbs.com