STI closes 28.71 points higher amid mixed sentiment across the region
Property counters such as CityDev, CapitaLand still offer value despite tough operating outlook.
AMID mixed sentiment across the region, the benchmark Straits Times Index (STI) ended Wednesday at 2,648.90, up 28.71 points or 1.1 per cent.
Only four of the STI's 30 component stocks were down for the day. Among key index gainers were the property counters - UOL Group, City Developments (CDL) and CapitaLand, which ended the day up 2.96 per cent, 2.66 per cent and 2.11 per cent respectively.
While the ongoing Covid-19 pandemic does not bode well for residential property sales, hotel occupancy rates or commercial rents, these stocks are widely seen by analysts to continue to offer decent value for long-term investors.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Cordlife directors offer differing views on future oversight if board is rejigged
Tesla lays off more staff in software, service teams, Electrek reports
Robinhood Crypto gets Wells notice from US SEC
Morgan Stanley strategists see inflation as key for path of US stocks
US: Wall Street opens higher as rate-cut hopes linger
Tyson raises outlook as lower costs boost chicken segment