Daily Markets Briefing: STI down 1.56%

Find out which firms underperformed.

According to KGI Fraser, just as investors were turning bullish, the strong recovery over the past week that finally pushed the STI Index to close beyond 3000 points may prove to be a false dawn.

After a weak China trade data was reported yesterday morning, Singapore stocks fell across the board, KGI Fraser said.

Here’s more from KGI Fraser:

The biggest losers in the STI index included Noble Group, Sembcorp Industries and Genting as they partially ceded their strong recovery the previous week.

In the REIT space, investors were largely sidelined or took some profits, with only 2 notable gainers: SPH REIT as it posted results that reflected a full year growth in DPU in spite of a weak retail environment, and Ascendas REIT as the latest proposed Australian acquisition lifted sentiments.