Social distancing markers are seen on benches as buildings stand in the Central Business District in Singapore on Monday, July 6,2020. Prime Minister Lee Hsien Loong vowed to hand over Singapore "intact” and in "good working order” to the next generation of leaders, predicting the coronavirus crisis will "weigh heavily” on the nation’s economy for at least a year. Photographer: Wei Leng Tay/Bloomberg
SINGAPORE: Despite deep cuts in the latest quarterly earnings of Singapore-listed companies and trusts, the worst is now behind them, said DBS Group Research in a market strategy report.
The second-quarter results season had suffered the full impact of global Covid-19 lockdowns, with a sharp 14.9% cut in forecast earnings in financial year 2020 for stocks under DBS’ coverage.
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