In today’s briefing:
- Global Banks Led Stocks on the Week with Arm IPO & Growth Outlook
- REIT Watch – S-Reits raise their sustainability reporting standards
Global Banks Led Stocks on the Week with Arm IPO & Growth Outlook
- Last week, the trio of DBS, UOB and OCBC averaged 3.4% gains, bringing their average 3Q23-to-date total return to 8.7%.
- The 3Q23-to-date has seen the trio of DBS, UOB & OCBC report combined 2Q23 Net Interest Income (NII) of S$8.26 billion, marking the third-consecutive quarter that combined quarterly NII has been above the S$8.0 billion mark.
- DBS Group Holdings (DBS), United Overseas Bank (UOB) and Oversea-Chinese Banking Corporation (OCBC) also moved in tandem averaging a 4% gain on the week.
REIT Watch – S-Reits raise their sustainability reporting standards
- Coverage of climate-related disclosures by S-Reits vs global real estate sector average for each TCFD pillar The S-Reits industry, as with all other sectors, is experiencing growing pressure from investors, tenants, regulators, and other stakeholders to report key environment, social and governance (ESG) information.
- The study reviewed the coverage and quality of disclosures by S-Reits against global peers and best practices based on the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.
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