Budget 2022: Here are the winning and losing stocks from Singapore's Budget

Here are the winning and losing stocks from Singapore's Budget

Tax changes in Singapore’s budget are positive for certain retail stocks and firms that are reducing their carbon emissions, but some multinational companies, property developers and luxury vehicle stocks emerge as losers. 
Finance Minister Lawrence Wong unveiled a budget on Friday that seeks to rebuild Singapore’s finances and chart a post-pandemic future by raising taxes on the wealthy and on consumption. The benchmark Straits Times Index closed 0.4% lower, though in the long term analysts said the budget should offer some support.
“Singapore’s fiscally smart moves would help boost its status as a country offering stocks that give high income and dividend yields,” said Nirgunan Tiruchelvam, head of consumer sector equity research at Tellimer. 
The benchmark index has risen about 10% this year, with the rotation toward value stocks helping it vie with Saudi Arabia’s Tadawul All Share Index for the top spot among major global gauges.
Here are details of what analysts see as the main winners and losers from the budget:


'Daunting' and 'significant': analysts react to Singapore's carbon tax rate hike

Singapore is taking its green agenda “to a new level” with carbon tax hikes in the coming years, writes DBS Group Research senior economist Irvin Seah.

In a Feb 21 note on Budget 2022, Seah says Singapore’s current carbon tax rate of $5/tonne of carbon emission “pales in comparison to many other economies at similar stage of economic development”.


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