Top 5 performing Singapore Exchange (SGX) listings of the week
Here are the best performing STI Index blue-chip (large capitalisation) constituents for the week ending 22 May 2020, based on IG data.
Two headlines this week had a significant impact on equity market sentiments across Asia, namely that of US drug maker Moderna’s positive coronavirus vaccine trial results, as well as China’s proposed national security law concerning Hong Kong.
Changing coronavirus vaccine test narrative
The first story gave Singapore’s blue-chip stock benchmark Straits Times Index (STI Index) a boost of over 2.5% at the start of the week to hit a high of 2594.30 points, based on IG trading data, as investor confidence grew.
That had allowed Singapore’s largest listings, among them DBS Group and Oversea-Chinese Banking Corporation, to rise as much as 1.9% and 3.5% respectively.
However, the rallies proved to be short-lived, as counter reports soon surfaced of insufficient data regarding the early-stage tests. At the end of Thursday 21 May 2020, the STI had erased nearly all of those gains.
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Investors shaken by proposed Chinese national security law
Then on Friday 22 May 2020, the STI – along with its constituents – took a further beating after it was reported that China’s rubber stamp parliament National People’s Congress would meet on Friday to debate a national security law that has been widely described as ‘controversial’.
The proposed law, which the South China Morning Post reported could ban secession, foreign interference, "terrorism" and all seditious activities targeting the Chinese central government, is Beijing’s response to the 2019 Hong Kong protests.
Xinhua News Agency reported that the parliament will review a bill ‘on establishing and improving the legal system and enforcement mechanisms for the Hong Kong Special Administrative Region to safeguard national security’.
Following the news, the STI sunk over 2.0%, with investors in the region – including Singapore, fearing the repercussions of revived protests in the East Asian financial hub.
The STI Index closed Friday’s session at 2499.6 points.
Here are the top-performing blue-chip (large capitalisation) listings on the STI for the week ending 22 May 2020.
1. CapitaLand Commercial Trust share price: +7.28%
Singapore’s first and largest commercial real estate investment trust (REIT) CapitaCom Trust finished the week at S$1.62 per share, an increase of 7.28% from the opening mark of S$1.51.
The stock is up nearly 11% in the month of May 2020.
2. SATS share price: +7.25%
Singapore aviation services group SATS ended the week at S$2.81 per share, up 7.25% from Monday’s opening mark of S$2.62.
The stock is down 5.28% in the month of May 2020.
IG is a world-leading online trading and investments provider for thousands of financial markets. With CFDs, you can buy long or sell short on SATS, Singapore Airlines, CapitaCommercial Trust and other Singapore stocks depending on whether you think prices will rise or fall. Start today by opening an IG account.
3. Mapletree Commercial Trust share price: +6.66%
Singapore-focused commercial REIT Mapletree Commercial Trust closed the week’s proceedings at S$1.92 a share. This represents an increase of 6.66% from Monday’s starting point of S$1.80.
The stock is up 9.1% in the month of May 2020.
4. CapitaLand Mall (CapitaMall) Trust share price: +6.32%
Retail-centric REIT CapitaLand Mall Trust - the first REIT listed on the Singapore Exchange, concluded Friday at S$1.85 a share, up from Monday’s opening price of S$1.74. This represents an increase of 6.32% for the week.
The stock is up 8.2% in the month of May 2020.
5. ComfortDelGro share price: +6.03%
Passenger land transport company ComfortDelGro Corporation saw its share price rise 6.03% this week, finishing at S$1.54 per share, up from S$1.46 on Monday morning.
The stock is up 6.9% in the month of May 2020.
How to trade Singapore stocks with IG
Are you bullish or bearish on SATS, ComfortDelGro, CapitaLand Mall Trust and other Straits Times Index (STI Index) stocks? Either way you can buy (long) or sell (short) the asset using derivatives like CFDs in a few easy steps:
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