Broker Name: OCBC Investment Research

Date of Report: 3 December 2025

Excerpt from OCBC Investment Research report

• Report Summary:
• Global stock markets showed cautious optimism, with technology and industrials leading gains in the US, driven by expectations of a Federal Reserve rate cut and stronger earnings forecasts.
• Singapore equities outperformed in 2025, supported by upgraded economic growth, robust corporate earnings, and attractive valuations, with positive outlooks for big-cap dividend stocks and small-mid cap re-ratings going into 2026.

Above is an excerpt from a report by OCBC Investment Research. Clients of OCBC Investment Research can be the first to access the full report from the OCBC Investment Research website : https://www.ocbc.com/group/investment-research