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UOB Kay Hian adds Sea Limited, CDG to its alpha picks portfolio; removes Singtel

Felicia Tan
Felicia Tan6/7/2021 3:19 PM GMT+08  • 3 min read
UOB Kay Hian adds Sea Limited, CDG to its alpha picks portfolio; removes Singtel
Sector-wise, banks and industrials outperformed, with industrial and hospitality trusts registering declines in May.
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UOB Kay Hian has added NYSE-listed Sea Limited and transport operator ComfortDelGro (CDG) to its Alpha Picks for the month of June after its portfolio beat the benchmark Straits Times Index (STI) in May with a 1.5% month-on-month (m-o-m) decline compared to the latter’s 1.7% m-o-m decline.

“Following the lead of global and regional markets, the STI dipped in mid-May to trough at 3,032 on May 14 only to recover in the last week as MSCI Singapore Index revisions led to increased fund inflows,” writes UOB Kay Hian’s Singapore research team in a June 4 report.

“With the Singapore government potentially relaxing Phase 2 (Heightened Alert) restrictions in mid-June there appears to be upside to some re-opening plays,” it adds.

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