STI dips slightly on cautious trading despite Phase 3 announcement

28-Oct-2020 Intellasia | The Edge Singapore | 6:02 AM Print This Post

The Straits Times Index (STI) dipped 0.3 percent to 2,534.96 as at noon of October 26, from 2,543.57 last week.

This comes despite news that Singapore might begin Phase 3 of the country’s re-opening by end 2020.

This week, Real Estate Investment Trusts (REITs) in Singapore saw red, including Ascendas REIT and Mapletree Industrial Trust (MINT), which will be releasing its results after market close today and tomorrow (October 27) respectively

CapitaLand Mall Trust (CMT), the newly-included Keppel DC REIT (KDC REIT), Mapletree Logistics Trust (MLT) and Mapletree Commercial Trust (MCT) all saw w-o-w dips following the release of their results.

MLT also announced its distribution per unit (DPU) and net asset value (NAV) accretive acquisition for $1.04 billion on October 19, the same day it posted its results for 2QFY2020.

This week, City Developments Limited (CDL) saw a 10.9 percent plunge w-o-w following news of its family disagreements on October 21.

Shares in Singapore Airlines increased w-o-w following its sold-out seats on its A380 restaurant experience.

Shares in Wilmar continued its downward trend since its subsidiary Yihai Kerry Arawana (YKA) listed on the China stock market. The IPO was expected to be a catalyst to Wilmar’s share price.


Category: Singapore

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