PM said relax, SG stocks jumped
Singapore PM Lee announced good news yesterday about the loosening of several Covid measures and the stock market reacted favourably.
The gathering size limit of 5 has been finally raised to 10, and serving of alcohol can continue beyond 10:30pm. This is long-awaited news by Singaporeans and Chinese restaurants. I believe the phones have been ringing non-stop for bookings after the announcement.
Share prices of restaurant / food outlet stocks jumped up.
Katrina (Bali Thai, Streats, So Pho etc) +26%
Tung Lok +20%
Soup Restaurant +19%
Kimly +5%
ABR (Swensen's) +4%
RE&S (Kuriya, Ichiban) +3%
Jumbo +2%
Most important of all was about travel - vaccinated travellers could travel without the need to quarantine or do arrival testing, as long as negative pre-departure test has been submitted. This means that Singapore is ready to welcome tourists as well as having Singaporeans travelling out of the country.
This definitely gave a boost to the aviation sector:
$SATS(S58.SG$ SATS (in-flight catering and ground handling): +5%
SIA Engineering: +4%
$SIA(C6L.SG$ SIA: +4%
Tourists would need to take transport around Singapore:
$ComfortDelGro(C52.SG$ ComfortDelGro +4%
SBSTransit +2%
And to stay in hotels:
Amara +6%
$CDL HTrust(J85.SG$ CDL HTrust +6%
Bonvests +4%
Frasers HTrust +4%
Far East HTrust +3%
Ascott Trust +3%
Hotel Grand +2%
OUE Com REIT (Hilton, Crowne Plaza) +2%
And to go shopping and visit places of interest:
$Lendlease Reit(JYEU.SG$ Lendlease REIT (Somerset 313) +7%
Straco (SG Flyer is closed though) +5%
FJ Benjamin (fashion) +5%
$Genting Sing(G13.SG$ Genting SG (RWS and casino) +4%
Starhill Global REIT (Ngee Ann City, Wisma Atria) +3%
Isetan +3%
Shangri-La +2%
Wing Tai (retail fashion shops) +2%
Suntec REIT +2%
Frasers Centrepoint Trust +2%
Mapletree Com Trust +2%
This is indeed a very good piece of news as Singapore is ready to live with Covid and continue to build our economy. Singapore stocks have had muted performances for many years but the Straits Times Index (STI) outperformed with a 8.8% return in 2022 thus far. The opening up of Singapore should fuel the momentum further.
We should expect companies to report better results in subsequent quarters and hence higher share prices are justified. But of course not all companies will benefit equally and investors need to be discerning.
The gathering size limit of 5 has been finally raised to 10, and serving of alcohol can continue beyond 10:30pm. This is long-awaited news by Singaporeans and Chinese restaurants. I believe the phones have been ringing non-stop for bookings after the announcement.
Share prices of restaurant / food outlet stocks jumped up.
Katrina (Bali Thai, Streats, So Pho etc) +26%
Tung Lok +20%
Soup Restaurant +19%
Kimly +5%
ABR (Swensen's) +4%
RE&S (Kuriya, Ichiban) +3%
Jumbo +2%
Most important of all was about travel - vaccinated travellers could travel without the need to quarantine or do arrival testing, as long as negative pre-departure test has been submitted. This means that Singapore is ready to welcome tourists as well as having Singaporeans travelling out of the country.
This definitely gave a boost to the aviation sector:
$SATS(S58.SG$ SATS (in-flight catering and ground handling): +5%
SIA Engineering: +4%
$SIA(C6L.SG$ SIA: +4%
Tourists would need to take transport around Singapore:
$ComfortDelGro(C52.SG$ ComfortDelGro +4%
SBSTransit +2%
And to stay in hotels:
Amara +6%
$CDL HTrust(J85.SG$ CDL HTrust +6%
Bonvests +4%
Frasers HTrust +4%
Far East HTrust +3%
Ascott Trust +3%
Hotel Grand +2%
OUE Com REIT (Hilton, Crowne Plaza) +2%
And to go shopping and visit places of interest:
$Lendlease Reit(JYEU.SG$ Lendlease REIT (Somerset 313) +7%
Straco (SG Flyer is closed though) +5%
FJ Benjamin (fashion) +5%
$Genting Sing(G13.SG$ Genting SG (RWS and casino) +4%
Starhill Global REIT (Ngee Ann City, Wisma Atria) +3%
Isetan +3%
Shangri-La +2%
Wing Tai (retail fashion shops) +2%
Suntec REIT +2%
Frasers Centrepoint Trust +2%
Mapletree Com Trust +2%
This is indeed a very good piece of news as Singapore is ready to live with Covid and continue to build our economy. Singapore stocks have had muted performances for many years but the Straits Times Index (STI) outperformed with a 8.8% return in 2022 thus far. The opening up of Singapore should fuel the momentum further.
We should expect companies to report better results in subsequent quarters and hence higher share prices are justified. But of course not all companies will benefit equally and investors need to be discerning.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Jac8888 : It's Lee Hsien Loong
Jam X : most LRITS went up except lendlease as usual drop lol