Dear readers, the Straits Times Index (STI) has gained steadily to reach 2,614.60 from a recent low of 2,233.48. It is still early days to tell whether the rally will be sustained. But I believe the full spill-over effects of the Covid-19 pandemic on economy and companies have not fully been crystalized yet. Amidst the gradual recovering of the Singapore stocks as measured by the Straits Times Index (STI), which STI stock is still currently oversold? Oversold on this blog is defined as 14 days-RSI below 30.
Currently, there is just one oversold STI stock. This STI stock is none other than Singapore Press Holdings (SPH) stock. As of yesterday, SPH stock traded at $1.53. With a Price-to-Book ratio of 0.632, SPH stock is oversold. The dividend yield of SPH is about 4.58%.
Being oversold and undervalued, SPH stock may seem appealing to some investors. I am not vested in SPH stock and am not interested in this stock, reason being the main media business of SPH is challenging in these times. SPH has diversified into other sectors and I prefer businesses with one main focus and excel in it.
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