Generally speaking, returns from the stock market are likely to be modest in 2024, according to UOB Kay Hian. 

It said the muted outlook next year arises from "concerns over inflation and higher-for-longer interest rates".

Still, there are stock picks that can do well, it said.

"While we forecast a modest 2.4% EPS growth for 2024, we nevertheless see a number of stocks within our universe that should deliver strong returns, backed by sustainable dividend yields."

UOB KH in a report today titled Searching For Golden Needles In The Haystack said: "We highlight our focus list of 15 stocks which we believe will generate above-normal returns in 1H24." 

"Our top large-cap picks are CapitaLand Investment, ComfortDelGro, First Resources, Genting Singapore, Mapletree Industrial Trust, OCBC, SATS, Seatrium, Sembcorp Industries and Venture Corp." 


UOB focus stocks11.23
"We believe that investors should focus on stocks that have revenue certainty over the next 6-12 months and trade at reasonable valuations and look for yield protection.

"Invariably, quality companies like those listed below have strong business resilience that should enable them to withstand an economic downturn and yet be well placed to take advantage of a rebound post-recession."

a) Revenue certainty: CapitaLand Ascott Trust, ComfortDelGro, Genting Singapore, Mapletree Logistics Trust, OCBC, Sembcorp Industries, Yangzijiang Shipbuilding.

arabicaMacCoffee is a top-selling brand of Food Empire.b) Technology focus: AEM, Aztech, Frencken, UMS, Valuetronics.

c) Cashed-up companies: Singapore Airlines (SIA), Genting Singapore, Yangzijiang Shipbuilding.

d) Laggard plays: City Developments, REITs with foreign assets, Venture, Lendlease REIT, Thai Beverage, Seatrium.

e) Small/mid caps with earnings power: CDL Hospitality Trust, Far East Hospitality Trust, Food Empire.


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Counter NameLastChange
AEM Holdings2.2400.100
Avi-Tech Electronics0.265-
Best World1.6800.050
Broadway Ind0.0950.008
China Sunsine0.4000.010
ComfortDelGro1.3600.010
Delfi Limited0.965-
Food Empire1.440-
Fortress Minerals0.280-
Geo Energy Res0.3400.010
GSS Energy0.026-0.001
Hong Leong Finance2.480-
Hongkong Land (USD)3.240-0.140
InnoTek0.445-0.005
ISDN Holdings0.315-0.005
ISOTeam0.035-
IX Biopharma0.045-
Jiutian Chemical0.025-
KSH Holdings0.250-
Leader Env0.050-0.001
Medtecs Intl0.130-0.002
Nordic Group0.3400.005
Oxley Holdings0.091-
REX International0.1340.001
Riverstone0.6850.010
Sinostar PEC0.138-0.002
Southern Alliance Mining0.600-
Straco Corp.0.500-0.030
Sunpower Group0.220-0.010
The Trendlines0.085-
Totm Technologies0.023-
Uni-Asia Group0.815-0.025
Wilmar Intl3.3300.010
Yangzijiang Shipbldg1.7900.040
 

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