Following the climb in stocks on Wall Street last Friday (August 28), investors’ optimism was evident as the benchmark Straits Times Index (STI) gained 0.4% to 2549.04 from last week’s 2538.61 as of mid-day.
Gainers outnumbered the losers with ComfortDelGro leading the charge with a 7.0% gain week-on-week (w-o-w).
CapitaLand Mall Trust and CapitaLand Commercial Trust gained 3.7% and 2.5% w-o-w following the Singapore Exchange’s (SGX) approval in-principle to CMT’s manager to list new units of CMT as part consideration for the merger between CMT and CCT.
See: CMT to list 2.78 bil new units following SGX approval; CCT to delist
Both trusts announced their proposal to merge into a diversified REIT on January 22.
Stocks such as DBS Group Holdings, the Oversea-Chinese Banking Corp (OCBC), and Singapore Airlines, which were down the week before, also saw gains of 1.2%, 1.6%, and 0.8% respectively.
Read all the STI watch articles here.
