UOB Kay Hian has added Genting Singapore to its Alpha Picks after the portfolio saw a flat performance for the month of July versus the Straits Times Index (STI).
“On both price- and market cap-weighted basis, our Alpha Picks portfolio rose 1.3% and 1.5% respectively and was in line with the STI’s 1.2% m-o-m increase,” the Singapore research team says in a August 4 note.
Seven stocks in the portfolio outperformed the index, including Singapore Exchange (SGX), UMS Holdings, Ascendas REIT and Frasers Logistics & Commercial Trust (FLCT). On a m-o-m basis, the stocks gained 6.3%, 5.9%, 5.8% and 5.6% respectively, compared to the STI’s 1.2% increase.
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