Carmen Lee, OCBC Bank

Carmen Lee, OCBC Bank

Carmen Lee

1 March 2024
Market Wrap: Market Wrap of the Week

Listen To Her Previous Podcasts:

17 May 2023
Market View: SIA’s record net profits in its 76-year history; Shell to use AI in deep sea oil exploration; UN projects global economic growth at 2.3% in 2023; Biden cancels visit to Australia to deal with US debt ceiling stalemate
Singapore stocks were down this morning, tracking overnight losses globally.
In early trade, the Straits Times Index (STI) was down 0.3 per cent to 3,205.35 points after 69 million securities changed hands in the broader market.
In terms of companies to watch, SIA continues to fly high. The group posted its highest full-year net profit in its 76-year history to S$2.2 billion for FY2022/23. That’s to be compared against a net loss of S$962 million in FY2021/22.
Elsewhere, unease over the slow progress of US debt talks further dampened sentiment in Asia markets today. With US President Joe Biden scrapping stops in Papua New Guinea and Australia after attending the G7 summit, how concerned should we be?
On Market View, the Drive Time team unpacked these developments with Carmen Lee, Head of OCBC Investment Research.

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10 May 2023
Market View: OCBC’s Q1 profits jumped 39% to record S$1.88b; Olam Agri plans dual listing in June; Impact of possible Olam Agri IPO on Singapore’s listing activity; US consumer inflation and possible surprise on the upside; US Biden and McCarthy on US debt ceiling
Singapore stocks rose this morning, despite overnight losses on Wall Street and in Europe.
In early trade, the Straits Times Index climbed 0.2 per cent to 3,249.78 points after some 53.2 million securities changed hands in the broader market.
In terms of companies to watch, we have for you OCBC, after the bank announced that net profit for its first quarter rose 39 per cent to a record S$1.88 billion, bolstered by strong net interest income growth.
Meanwhile, investors zoom in on Olam Group after reports said the agri food giant is planning to launch in June a dual IPO of its agricultural unit that could raise up to US$1 billion in Singapore and Saudi Arabia.
If actualised, the dual listing would solidify Southeast Asia as a global IPO hotspot and give a lift to Singapore’s IPO activity.
Elsewhere, all eyes are on April’s US consumer inflation due later tonight. That’s as traders continued to watch President Joe Biden and top lawmakers’ attempt to break a deadlock over raising the US$31.4 trillion US debt limit.
On Market View, the Drive Time team unpacked these developments with Carmen Lee, Head of OCBC Investment Research.

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26 April 2023
Market View: Microsoft and Alphabet’s results top estimates; Alibaba’s cloud computing division slashes prices by up to half; MAS’ half-yearly macroeconomic review; Suntec REIT’s DPU down 27.4% yoy
Singapore shares fell this morning, mirroring losses in global markets.
In early trade, the Straits Times Index (STI) fell 0.2 per cent to 3,291.7 points after 40.9 million securities changed hands in the broader market.
In terms of companies to watch, we have for you Suntec Real Estate Investment Trust, after the Reit posted a distribution per unit (DPU) of S$0.01737 (1.73 Singapore cents) for the first quarter of 2023, a 27.4 per cent decline from the same period a year ago.
Meanwhile, mixed earnings reports in the US continue to weigh on investors though we saw promising earnings from Microsoft and Alphabet after markets closed.
On Market View, the Drive Time team unpacked these developments with Carmen Lee, Head of OCBC Investment Research.

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19 April 2023
Market View: S-Reits’ distribution figures; US beige book of economic conditions; More Fed officials to speak; Hong Kong’s interbank liquidity at its lowest since the GFC and impact on banks
Singapore shares rose today following an upbeat session on the European market.
The Straits Times Index was up 0.1 per cent to 3,311.43 points in early trade after 53 million securities changed hands in the broader market.
In terms of companies to watch, Reits continue to be in focus this week as well with Keppel DC Reit, Keppel Pacific Oak US Reit among those posting their distribution numbers.
Globally, investors now shift their focus away from US banks to the Fed’s next moves after recent bank earnings soothed concerns about the sector. With a number of Fed officials set to speak this week and the central bank’s “beige book” of economic conditions due today, what can we expect?
On Market View, the Drive Time team unpacked these developments with Carmen Lee, Head of OCBC Investment Research.

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16 September 2022
Market View: Fed's rate hike expectation after red-hot CPI data, China keeping rates unchanged, Impact of rate decisions on Singapore's economy and stock market
Global equity markets have been rather volatile mid-week after stronger-than-expected US inflation data triggered fears of more aggressive rate hikes by the US Federal Reserve. But where exactly would the Fed go? While the US is expected to be tackling inflation head on, China is holding its key rate or the one-year medium-term lending facility unchanged at 2.75% - what does this mean for its economy? But how will all of that weigh on the economy and stock market in Singapore? On Market View, Prime Time's Finance Presenter Chua Tian Tian spoke with Carmen Lee, Head of OCBC Investment Research to find out.

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1 August 2022
Bigger Picture: Impact of rising rates, slowdown on earnings
Carmen Lee, Head of OCBC Investment Research, discusses what worries about an economic slowdown will mean for corporate earnings, and how rising interest rates will impact various sectors.

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5 January 2022
Bigger Picture: Singapore stock returns projected to moderate to single digit
Carmen Lee, Head of OCBC Investment Research shares her outlook for Singapore markets and how investors should reposition themselves around emerging themes.

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26 August 2021
A Review of Singapore's Recent Earnings Season
Carmen Lee, Managing Director of Equity Research at OCBC, joined us once more on Prime Time to help recap Singapore's recent earnings season, and discuss which sectors impressed. She also touched on signs of rising price pressures weighing on profits, the outlook for Singapore's aviation sector, and which sectors might be more vulnerable to rising rate pressures.

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26 August 2021
A Review of Singapore's Recent Earnings Season
Carmen Lee, Managing Director of Equity Research at OCBC, joined us once more on Prime Time to help recap Singapore's recent earnings season, and discuss which sectors impressed. She also touched on signs of rising price pressures weighing on profits, the outlook for Singapore's aviation sector, and which sectors might be more vulnerable to rising rate pressures.

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10 June 2021
Market View: Taking Stock of Singapore Equities Heading into the 2nd Half
Solid gains booked by Singapore equities since the start of the year hit a bit of a snag with the Phase 2 HA measures being implemented last May. But Carmen Lee, OCBC's Head of Equities Research, thinks that this may be a temporary setback. She joined us on Prime Time to share their outlook for local stocks, assessed potential headwinds from COVID risks and skilled labour shortages, as well as their outlook on the country's REITs.

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20 April 2021
Wealth Insights with the OCBC Wealth Panel - Singapore Residential Property - Physical assets or stocks? (Episode 5)
Investing in property is not just about buying the property itself. Hear what Carmen Lee, Head of OCBC Investment Research, has to say.
Click here to read more relevant articles from the OCBC Wealth Panel.

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Click here to listen to more episodes from Wealth Insights with the OBCC Wealth Panel

30 March 2021
Wealth Insights with the OCBC Wealth Panel -  What can we expect from Singapore’s stock market this year (Episode 2)
Hear what Carmen Lee, Head of OCBC Investment Research, thinks of undervalued stocks and if they could be coming back into focus.
Click here to read more relevant articles from the OCBC Wealth Panel.

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Click here to listen to more episodes from Wealth Insights with the OBCC Wealth Panel

23 March 2021
Market View: Taking Stock of Singapore's Recent Earnings Season and Capitaland's Restructuring
Carmen Lee, Head of Investment Research at OCBC, joined us on Prime Time to discuss her impressions of Singapore's recent earnings season, but she also shared her thoughts on Capitaland's major restructuring plans, and what it might mean for shareholders.

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16 July 2020
OCBC Bank's Outlook for Singapore Equities
The second quarter rebound for global equities showed signs of stalling, with questions over the valuations of some tech stocks in the US. But in the case of Singapore, The Straits Times Index may not see more losses and trade range-bound with slight gains. OCBC's Head of Investment Research Carmen Lee joined us to discuss their outlook on valuations and whether a rotation from growth to value stocks might occur in the coming months.

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1Q Earnings Wrap with OCBC's Carmen Lee
How did Singaporean companies fare in the first quarter earnings-wise? OCBC's Head of Equity Research Carmen Lee thinks that there weren't too many surprises, but is keeping tabs of how the trade war might impact earnings down the road. She also spoke to us about whether there are bargains to be found amidst the prolonged pullback in equities.

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