Deal-related stocks like PREH, SCI and YOMA saw the largest gains last month while JCNC, MCT and CT saw a difficult month. In terms of financial flows, institutional sell-off/retail accumulation persisted for the fifth straight month, with funds conducting broad-based selling in all sectors except technology. Outflows were the greatest in Financials, REIT and Telcos, but this was offset by increased retail investor demand for these sectors.
SINGAPORE (July 1): The high drama and sudden moves of Singapore’s 2020 general elections may have enthralled the general public, but investors are unlikely to be moved by the republic’s unusual election. All eyes are instead turned to the US presidential elections in November, which analysts expect to have a greater impact on Singapore markets.
“From past [Singapore] election results, there is likely to be little, if no impact, on the economy and the market,” predict analysts Lim Siew Kee and Jeremy Ng from CGS-CIMB. Election fever appears not to have influenced markets yet with most sectors trading range-bound aside from utilities, which outperformed the market.
