Top Down Strategy and Large Cap Stock Picks - the DBS Vickers ...
Top Down Strategy and Large Cap Stock Picks - the DBS Vickers ...
Top Down Strategy and Large Cap Stock Picks - the DBS Vickers ...
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Regional Equity <strong>Strategy</strong> Q4 2007<br />
Market Data<br />
Market Data<br />
Relative Valuations & Performance<br />
<strong>Stock</strong> Market Valuation<br />
Valuation – September 2007<br />
Market <strong>Cap</strong> EPS Growth (%) PE (x)<br />
(US$ bn) 06 07F 08F 06 07F 08F<br />
Hong Kong 1,161 14.7 29.9 12.5 20.2 16.2 15.4<br />
China 1,261 17.9 30.3 21.7 32.0 25.6 21.1<br />
Singapore 487 20.8 17.0 19.3 20.3 17.3 14.5<br />
Malaysia 274 15.7 26.9 16.0 20.6 16.3 14.0<br />
Philippines 171 8.0 0.1 15.9 18.0 17.4 23.3<br />
Thail<strong>and</strong> 124 (11.8) (3.1) 11.1 12.7 12.7 11.4<br />
Indonesia 167 19.0 39.7 18.5 23.0 16.8 13.8<br />
Korea 1,001 2.8 12.1 14.9 11.9 11.5 10.1<br />
Taiwan 669 (39.0) 32.6 16.4 13.2 12.5 10.7<br />
Prices are as at 17 September 2007<br />
Market Performance (% change) – 17 September 2007<br />
Singapore (STI)<br />
Hong Kong (HSI)<br />
China (H SCCI/HSCEI)<br />
Kuala Lumpur (KLCI)<br />
Bangkok (SET)<br />
Philippines (PCOMP)<br />
Jakarta (JCI)<br />
Taiwan (TAIEX)<br />
Korea (KOSPI)<br />
Tokyo (Nikkei 225)<br />
New York (Dow Jones)<br />
-20.0 -10.0 0.0 10.0 20.0 30.0 40.0 50.0<br />
1-month ago 3-months ago YTD<br />
4
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