SGX review: Venture, Ascendas Reit, Mapletree Logistics Trust

Singapore stock benchmark Straits Times Index (STI Index) fell 1.62% this week, amid rising US-China tensions and Covid-19 cases globally.

Of the 30 blue-chip stocks tracked by the STI, only four companies managed share price gains by the end of the week, as investor sentiment waned.

Here are the Singapore Exchange’s (SGX) top gainers and losers for the week ending 24 July 2020.

1. Mapletree Industrial Trust (SGX: ME8U) share price: +7.5%

Mapletree Industrial Trust (MIT) experienced the largest share price increase this week, with the real estate investment trust (REIT) posting a distributable profit of S$70.6 million – up by 11.6% year-on-year.

Meanwhile, distribution per unit (dividend) fell 7.4% year-on-year to S$0.0287 in Q1 of fiscal 2020/2021.

The stock finished the week at S$3.16 per share, an increase of 7.5% from an opening mark of S$2.94.

Despite the share price increase, IG data showed that ‘sells’ formed 71% of all trades on the MIT counter this week. Additionally, just 38% of IG client accounts with open positions in this market currently anticipate any further price rallies, with the remaining 62% holding ‘short’ positions.

2. Mapletree Logistics Trust (SGX: M44U) share price: +4.9%

Supply chain-focused Mapletree Logistics Trust (MLT), which also posted a distributable income of S$77.8 million in its latest reporting quarter – 5.7% higher year-on-year, ended the week at S$2.14 per share, up 4.9% from Monday’s starting bid price of S$2.04.

IG’s market analysis showed that ‘buys’ formed half of all trades on the MLT counter this week. Meanwhile, 44% of IG client accounts with open positions in this market expect the share price to rise.

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3. Ascendas Reit (SGX: A17U) share price: +4.8%

Singapore’s largest REIT Ascendas Reit (A-Reit)’s distributable income grew 3.7% year-on-year in the first half of fiscal 2020. Distribution per unit, however, fell 10.8% from that given a year prior.

Consequently, A-REIT was able to conclude the week 4.8% higher at S$3.48 per share.

IG data showed that ‘buys’ comprised 50% of all trades on the A-Reit counter this week. In terms of client outlook, however, just 38% of opened client accounts held ‘long’ positions, versus 62% in ‘shorts’.

4. Venture (SGX: V03) share price: +1.31%

IT service provider Venture Corporation was the only other company that managed to stay in the black this week, as it concluded the week 1.31% higher at S$16.98 per share.

IG’s market analysis showed that ‘buys’ formed 78% of all trades on the Venture counter this week. However, just 33% of opened client accounts currently hold a ‘buy (long)’ outlook on the stock, as compared to 67% banking on ‘sell’.

5. Dairy Farm (SGX: D01) share price: -7.5%

Asia retail group Dairy Farm International Holdings, which operates a network of department stores and supermarkets, was the STI’s worst performer for the second straight week, as it closed proceedings at US$4.24 per share. This represents a drop of 7.5% from Monday’s buy-in rate of US$4.57.

IG data showed that ‘buys’ made up 60% of all trades on the Dairy Farm counter this week. Meanwhile, 95% of client accounts with open positions expect the share price to rise.

How to trade top Singapore stocks with IG

Are you feeling bullish or bearish on Straits Times Index (STI Index) stocks? Either way you can buy (long) or sell (short) the asset using derivatives like CFDs offered on IG's industry-leading trading platform in a few easy steps:

1. Create a live or demo IG Trading Account, or log in to your existing account
2. Enter <company name> in the search bar and select the instrument
3. Choose your position size
4. Click on ‘buy’ or ‘sell’ in the deal ticket
5. Confirm the trade