Dear readers, Singapore Straits Times Index (STI) retreated by 1.11% yesterday, a magnitude which has not be seen for some days already. Some reports which I have read attributed this to the news that the Singapore’s Covid-19 multi-ministry taskforce is evaluating the timing and scope of the second stage of the reopening of Singapore’s reopening. I am not surprised at the analysis since like what I shared with readers before, the only catalyst on the local front driving Singapore stocks markets is all about the re-opening of the Singapore’s economy and this can work both ways.
To me, while the 1.11% decline of the STI is noteworthy, it may be more instructive to take a look at just which are the top losing STI component stocks in yesterday’s trading session.
The top ten STI losers yesterday are:
SIA stock: -3.15%
Ascendas Reit: -2.33%
Wilmar International: -2.33%
Capitaland International Commercial Trust: -2.32%
Sembcorp Industries stock: -2.30%
Singtel stock: -2.12%
Fraser L&C Trust: -2.11%
Keppel Corporation: -2.10%
YangZiJang stock: -2.10%
Mapletree Logistic Trust: -1.94%
Let us look at the performance of the bellwether STI stocks yesterday. DBS stock retreated by 0.50%, OCBC stock went south by 1.05% and UOB stock was down by 0.23%. It seem for some reasons, OCBC went south more yesterday than the two other banking stocks.
I would advise readers not to think too much of the local factors of economy re-opening on the STI and Singapore stocks. Singapore stocks markets are shaped more by the performance of the larger US stocks markets. And the more important macro factor to look out for is Inflation for US.
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! I also run another blog Singapore Stocks Investing with similar useful insights! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
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