CMC Markets market analyst Margaret Yang said:"This helped to clear the last hurdle in the markets following a de-escalation in US-Iran tensions. The question is how much more upside is , given the fact that December's rally has more or less priced this in."
On Friday, trading volume in the city-state clocked in at 1.57 billion securities, 61 per cent over the 2019 daily average. Total turnover came in at S$1.20 billion, 26 per cent more than last year's daily average. Singtel, which closed S$0.04 or 1.2 per cent lower at S$3.32, was the STI's most active counter with 25.5 million shares traded on Friday. Investors continued to pare their positions on the telco after its associate Bharti Airtel revealed plans to raise up to US$3 billion ahead of the due date for fines payable to India's regulators. Citi Research analysts however believe the exercise will not affect Singtel's cash flows.
UOB Kay Hian analyst K Ajith expects SIA to report a strong Q3 on good passenger numbers but is cautious about Q4 due to the bushfires in Australia, a market that counts for around 16 per cent of its total passenger capacity. Mr Ajith has an entry price of S$8.60 for SIA.
Singapore Latest News, Singapore Headlines
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