Morning update ⏰ 😯 Singapore: Too early to celebrate tariff...

Morning update ⏰

😯 Singapore: Too early to celebrate tariff ruling

Recent developments may prolong rather than shorten tariff uncertainty and complicate US trade talks. With tariff news flow still fluid and the global macro outlook uncertain, we recommend sticking with resilient and defensive stocks. Which names are we looking at?

https://go.dbs.com/3FvHlKe

🇸🇬 Equity Picks: Reducing exposure to a stock

We’ve trimmed exposure again, with the stock up 30% from April lows, and retracing over 38% of its Nov’24 peak-to-Apr’25 trough. Earnings cuts and a lower TP reflect a weaker trade outlook and limited diversion opportunities. Find out who it is.

https://go.dbs.com/4jnco8P

🏥 IHH: Underlying growth intact despite FX drag

1Q25 results met expectations, reflecting resilient operations execution driven by higher inpatient volumes and revenue intensity. Operational excellence suggest multi-year earnings expansion, supported by transformation levers amid cost inflation. What catalysts do we see ahead?

https://go.dbs.com/43iiP8y