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STI up 1.33% following vaccine rollout; positive outlook in 2021

Thiveyen Kathirrasan and Felicia Tan
Thiveyen Kathirrasan and Felicia Tan12/14/2020 01:23 PM GMT+08  • 1 min read
STI up 1.33% following vaccine rollout; positive outlook in 2021
Week-on-week, the index was up 1.19% from 2,825.51.
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The Straits Times Index (STI) was up 1.33% or 37.47 points to 2,859.17 as at 1.13pm on Dec 14 amid the rollout of Covid-19 vaccines in Canada, the UK and the US.

Week-on-week, the index was up 1.19% from 2,825.51.

Majority of the 30 constituents were in the green with CapitaLand Integrated Commercial Trust (CICT) leading the charge with a 6.5% w-o-w gain.

On Dec 9, DBS Group Research called the REIT a “bargain” as it was trading at attractive valuations of close to 1.0x P/NAV.

For more stories about where the money flows, click here for our Capital section

Surprisingly, shares in Singapore Telecommunications (Singtel) fell 2.1% w-o-w even though the telco, together with Grab Holdings, secured one of four digital bank licences from the Monetary Authority of Singapore (MAS) on Dec 4.

See also: MAS awards digital bank licences to two consortiums, two entities and DBS and CGS-CIMB see digital bank licence win as 'positive longer-term development' for Singtel

On Dec 7, analysts from DBS Group Research and CGS-CIMB Research said they viewed the win as a “positive longer-term development” for Singtel.

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