Dear readers, as you should be aware right now, the stocks markets are now jittery over the Wuhan coronavirus episode. Singapore’s stocks markets as with the other markets are sold down. Yesterday, the Straits Times Index closed 1.81% lower. A downward movement of this magnitude for the Straits Times Index has not really been seen for a long while.
Many stocks with operations based in China and which were affected by the Wuhan coronavirus episode headed south readily. A notable stock was Sasseur Reit which headed 10.3% yesterday on announcement that it will close its retail malls in China for the time being.
On the Straits Times Index (STI) stocks front, beside (1) Dairy Farm USD stock, (2) ComfortDelgro stock, (3) SATS stock, (4) Thai Beverages stock, (5) Yangzijiang stock which continues to be oversold; the following Straits Times Index stocks have also become oversold as of yesterday:
(6)CityDevelopment stock
(7)Genting Singapore stock
(8)Keppel Corporation stock
(9)Sembcorp Industries stock
(10)SIA stock
(11)SPH stock
(12)UOB stock
(13)Wilmar stock
The Wuhan Coronavirus episode seems to still be developing and it may be likely that this episode will get worse before it will get better. Seen in this light, investors should really identify a good entry point if they would want to get some of the Straits Times Index stock at a discounted price.
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