Stock Market News Update Singapore

The Singapore stock market fell due the the implementation of heightened COVID-19 measures. In essence, social gathering is minimised and dining in is disallowed.

Most stocks fell including Singapore Airlines by 5.66% to $4.50 and hotel reits such as Far East Hospitality trust by 4.17% to 0.57%.

Supermarket stock Sheng Siong however rose by 10.67% to $1.66 after the news report showed people thronging the supermarkets and emptying the shelves. Another stock that showed a major rise is UG healthcare which rose by 5.97%, outshining other glove making stocks such as top glove who has been embattled recently with bad news of glove shipments being impounded by the US government.

My recommendation this period if to sit tight and be ready to buy small amounts on the tip. With these new measures, the COVID situation would likely improve after 2-4 weeks and the overall market is likely to stabilise.

I will still keep away from airline stocks, at least until the global situation improves.

Leave a Reply

Your email address will not be published.