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STI dips slightly on cautious trading despite Phase 3 announcement

The Editor
The Editor10/26/2020 12:53 PM GMT+08  • 2 min read
STI dips slightly on cautious trading despite Phase 3 announcement
The Straits Times Index (STI) dipped 0.3% to 2,534.96 as at noon of Oct 26, from 2,543.57 last week.
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The Straits Times Index (STI) dipped 0.3% to 2,534.96 as at noon of Oct 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.


See: Phase 3 might start by end of the year

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 (Oct 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 Oct 19, the same day it posted its results for 2QFY2020.

See also: Singapore market to offer stability amidst global volatility in 2023: OCBC

See also: Mapletree Logistics Trust plans DPU and NAV accretive acquisition for $1.04 billion

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

See also: Citing disagreements over investment in China, Kwek Leng Peck quits CDL's board and Is CDL oversold following the family disagreements over Sincere and M&C?

See also: Singapore's FSSTI sees rebound despite extension in domestic restrictions

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.

See also: YKA listing expected to be catalyst to Wilmar share price: UOB Kay Hian and Wilmar's share price drop following China subsidiary's listing debut is a "surprise"

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