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Capital goods sector to lead Q1 23 results: analyst

The rest of the sectors may feel muted growth.

The capital goods sector will lead the positive trend in the first quarter of 2023 amidst muted results, an analyst from CGS-CIMB said.

It expects those with stronger toplines to become top gainers including Sembcorp Marine, Yangzijiang Shipbuilding, ST Engineering, and Keppel Corporation.

It recommends buying Sembcorp Marine, OCBC, and Aztech and selling AEM.

For SMM's 1Q23F, its order book is seen to reach approximately S$23bn.

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