Straits Times Index (STI)

Wuhan coronavirus fears send Singapore stock market into turmoil, but the worst is far from over

SINGAPORE (Jan 28): Following the long Lunar New Year weekend, local stocks slumped first thing on Tuesday morning in tandem with heightened fears about the looming Wuhan coronavirus. 

The benchmark Straits Times Index (STI) fell 2.25%, or 73 points, to 3,167.02 shortly after the market opened, with some 227 million securities worth $250.8 million changing hands. 

As trading resumed after the mid-day break, it became clear that the sell-off was unlikely to wane anytime soon. As at 1.05pm, the STI had plunged some 2.49%, or 80.66 points, to 3,159.36. 

Singapore stocks tank as Iran launches missile attacks on US bases in Iraq

SINGAPORE (Jan 8): The Singapore Exchange (SGX) saw a sea of red on Wednesday morning, as investors woke to news that Iran had fired a series of missiles at two US-Iraqi airbases.

The attacks are believed to be in retaliation for the killing of Iranian General Qassem Soleimani by American forces last week.

The Straits Times Index (STI) opened 36.58 points lower, or down 1.12%, on Wednesday.

The benchmark index continue to fall to as low as 3,193.31 points – some 1.68% lower than the previous close of 3,247.86 points on Tuesday – before paring some of the losses.

Mapletree Logistics Trust added to STI; Golden Agri-Resources dropped

SINGAPORE (Dec 5): Mapletree Logistics Trust (MLT) will be added as a constituent of the benchmark Straits Times Index (STI) – replacing Golden Agri-Resources (GAR) – in the only change following a December quarterly review, FTSE Russell announced on Dec 5.

The STI reserve list, comprising the five highest ranking non-constituents of the STI by market capitalisation, will be, in order of size, Suntec REIT, Mapletree Industrial Trust, Keppel REIT, Mapletree North Asia Commercial Trust and NetLink NBN Trust.

'New dawn' for Mapletree Commercial Trust as it replaces HPHT in ST Index

SINGAPORE (Sept 9): Mapletree Commercial Trust (MCT) has earned a spot on the benchmark Straits Times Index (STI), on the back of robust growth numbers as well as steady increase in revenue and shareholder returns.

For 1Q19/20 ended June, the REIT reported a 3.6% rise in DPU to 2.31 cents, compared to 2.23 cents in 1Q18/19. Income available for distribution rose 4.1% to $67.2 million, from $64.6 million last year.

HPHT booted from STI amid trade tensions

(Sept 6): Hutchison Port Holdings Trust will be removed from Singapore’s Straits Times Index after a dramatic fall in its market value amid rising global trade tensions, the index provider said in a statement.

Singapore set for biggest monthly loss in over 3 years; Indonesia rises

(May 31): Singapore stocks fell on Friday, and is set for its biggest monthly loss in more than three years, symbolising a tough month for most equity markets in the region as US-China trade tensions reignited.

The benchmark index in Singapore slid 0.6% as investors turned cautious of a possible slowdown in global growth.

"Singapore is one of the most exposed countries to any slowdown in global trade. Our gross trade is 400% of GDP," Paul Chew Kuan Leng, head of research at Phillip Securities Research said.

3 defensive plays to tide investors over a volatile 2019: RHB

SINGAPORE (Jan 23): RHB Research has an “overweight” rating on banks for the sector’s strong growth and high yields; the consumer and industrial space as defensive sector picks; as well as REITs that are beneficiaries of improving economic activity, and/or with strong balance sheets.

What does SGX have to say about the increase in share buybacks in 2018?

SINGAPORE (Jan 11): Last year, the Straits Times Index lost 10.5%, owing to a range of global and domestic factors. Amid the plunge, many locally listed companies took the opportunity to buy back their own shares.

According to SGX My Gateway, the value of share buybacks more than trebled to $1.53 billion in 2018, from $426 million in 2017. The figure was also higher than the $826 million worth of share buybacks recorded in 2016, but lower than the $2 billion worth of share buybacks registered in 2015.

Go for lower beta, dividend-paying stocks this year after a disappointing 2018: Phillip

SINGAPORE (Jan 4): Phillip Capital is maintaining its Straits Times Index (STI) target of 3,400 in Oct 2019 – which pegs the market at 13.5 times, or around its ten-year average valuation – as the research house advocates a lower-beta equity portfolio for the year, with an emphasis on dividend-paying stocks.

In a Friday report, head of research Paul Chew opines that the Singapore market is currently cheap on a historical basis, as the STI currently trades at 1 SD of its 10-year historical valuations on a forward P/E of 12 times, or P/B of 1 times.

Don't let your investing guard down in 2019, says RHB

SINGAPORE (Dec 26): RHB Research is targeting 3,300 for the Straits Times Index (STI) by end-2019 and advises investors to remain defensive amid anticipated volatility in the year ahead – by focusing on buying stocks that offer stable earnings, strong balance sheets and sustainable dividends.

The research house’s caution comes despite inexpensive overall market valuations, in the research house’s view, with the STI trading at 12.7 times its one-year forward P/E at the -1SD band as at the close of Dec 13.

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