Dear readers, the Singapore stocks markets reached an important milestone today, as you would have read in the news this week.
The Singapore stocks markets benchmark indicator, the Straits Times Index (STI) reached below the oft-cited psychological threshold level of 3,000 for the first time since Mar 2021.
For the week, the STI closed 2.29% lower.
Apart from the above, from the closing of the STI below 3,000; there are seven STI stocks that investors should take note this week, in relation to their performance for the week. I summarise them as below.
Mapletree Logistics Trust: -2.72%
Frasers Logistics & Commercial Trust: -3.60%
Mapletree Pan Asia Commercial Trust: -4.91%
Capitaland Integrated Commercial Trust: -4.92%
Capitaland Ascendas Reit: -5.36%
Mapletree Industrial Trust: -5.75%
Keppel DC Reit: -5.88%
The above list are the Singapore Reits and Trusts that make up the STI and as we can see from the above, these seven Reits and Trusts are among the worst performers in the STI for the week.
Money is now flowing out from these oft-cited defensive havens and why not when many savings accounts are offering close to 3% or higher interest rates, risk free. And when stock markets are so volatile right now.
I believe the recent performance of the Singapore Reits and Trusts will further catalyse more long-time investors into these stocks to pull out their monies first and wait for a more appropriate time to reinvest. This is why Singapore Reits and Trusts are likely to decline further in my opinion.
And this is more so, when the 3,000 STI level has been breached, we are likely to see more selling of the STI and more exit from the STI Reits and Trusts.
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!
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