STI stays resilient and could meet its upside objective; HSI attempts rebound

Whether it is the new REIT IPO, or the potential listings of at least three special acquisition companies (SPACs), or the minor tussle - albeit temporary - for Singapore Press Holdings, or even speculative plays on potential RTO targets, some interest has returned to the local market. Against this backdrop, the Straits Times Index has remained steady, down just nine points week-on-week during Nov 8-12. This is despite volatility in the US where the indices touched new highs before falling sharply.