Genting S'pore fights to stay above S$1.10 levels
Singapore
AFTER dipping below S$1.10 on Wednesday for the third time in recent weeks following its post-quarterly results descent from the S$1.25 levels, the stock of Genting Singapore perked up on Thursday. The counter closed trading 2.5 cents, or 2.3 per cent, up at S$1.115, with 24.3 million shares changing hands. The stock, which has been on a general decline since the integrated resort operator reported lacklustre quarterly financial results in August, has been digging its heels in at around the S$1.10 levels for the past week as it saw increased trading activity.
On Tuesday, UOB-Kay Hian upgraded the stock to a "buy" but kept the target price at S$1.32. The recent share correction means there should be limited downside risk, said UOB-Kay Hian.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
GlaxoSmithKline sues Pfizer and BioNTech over Covid-19 vaccine technology
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Nasdaq’s profit falls as shaky economy keeps IPO revival elusive
iFast Q1 net profit surges on ePension unit performance
Suntec Reit Q1 DPU down 13% to S$0.01511 in absence of capital distribution
US: Wall St opens lower as Meta Platforms, economic data weigh