Dear readers, PM Lee has addressed the nation (yesterday) on Singapore’s longer-term plan in this new Covid-19 normal. Listening to PM’s address, I feel encouraged and pleased that our country has adopted a reasonable and practical approach toward living in this new normal. I feel grateful that our country has done well in this fight toward Covid-19 as compared to what has happened in many other countries. I hope all of us can continue to play our role (safe-distancing, safe management practices) in this new normal so that the situation here in Singapore will further improve.
Following PM Lee’s address yesterday, the Singapore Stock markets as measured by the Straits Times Index (STI) dipped slightly by 0.4% yesterday. I believe this is due to the fact that Singapore will progress to Stage 3 only in stages progressively following the end of Stage 2 Heightened Alert and also some measures will be tightened if situation deteriorates. Investors who have expected the announcement of a clear and definite step back to Stage 3 with most parts of the economy functioning may have been disappointed by the announcement which prompted the selling.
Okay, so let us take a look at the Straits Times Index (STI) right down. At the current time of writing today, the STI has only inched up 0.03 or remained flat. But it will be instructive to take a look at the major movers of the STI as of this time of writing.
For decliners, we have
Mapletree Industrial Trust: -2.12%
Mapletree Commercial Trust: -1.43%
Keppel DC Reit: -0.78%
Ascendas Reit: -0.68%
YangZiJiang stock: -0.67%
SIA: -0.60%
It is noteworthy that Reits and Trusts are the among the worst performing STI stocks for the time as of this time following PM Lee’s address.
Let us take a look at the best performing STI component stocks as of this time in writing:
SATS: +2.55%
Thai Beverages: +1.46%
Genting Singapore: +1.18%
Wilmar International: +1.05%
I feel SATS, Thai Beverages benefit from the longer-term trend of food consumption be it in catering or beverages as these are rather defensive areas; hence I am not surprised that these stocks have done well today.
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
BINGE READ ALL POSTS!
Visit Home Page for more reads or Connect here!