Hot stock: Sheng Siong jumps 11.3% on F&B curbs; aviation stocks slide

SHARES of Sheng Siong surged by 11.3 per cent on Friday after Singapore's multi-ministry task force (MTF) announced tighter restrictions on food and beverage (F&B) operators.

Sheng Siong, which operates supermarkets, saw its shares jump to an intraday high of S$1.67 within half an hour of the MTF announcement. The counter was up 11.3 per cent or S$0.17 as at 1.30pm, with 25.5 million shares changing hands.

Starting Sunday, people will only be allowed to gather in groups of two instead of five. 

Activities that allowed for the removal of masks, such as dining-in at F&B establishments, will be ceased. Both indoor and outdoor F&B establishments, including hawker centres and food courts, will be able to offer only takeaway and delivery options. 

The government will raise its wage support for F&B establishments to 50 per cent, up from 10 per cent.

Travel-related stocks tumbled during the afternoon trade after it was announced that the planned air travel bubble (ATB) between Singapore and Hong Kong that was due to start on May 26 may be delayed further as it's likely that the Republic would not be able to meet the criteria for the ATB to carry on.

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This could be the second postponement of the ATB. It was deferred last November following a spike in infections in Hong Kong.

Among aviation counters, SIA Engineering lost 8.8 per cent or S$0.19 to S$1.97, SATS dropped 6.5 per cent or S$0.25 to S$3.59, while national carrier Singapore Airlines tumbled 6.3 per cent or S$0.30 to S$4.47 as at 1.49pm. 

Other than F&B sector-related curbs, capacity limits for events, attractions, shopping malls and libraries will also be reduced. Wedding receptions will also not be allowed, while congregational and other worship services will see a reduction in attendees allowed at any one time.

Transport operator ComfortDelGro was trading 4.3 per cent or S$0.07 lower at S$1.56, while integrated resort operator Genting Singapore declined 4.3 per cent or 3.5 Singapore cents to 77.5 cents. 

On the other hand, some suppliers of gloves and personal protective equipment (PPE) saw an uptick in their shares. Medtecs International, which manufactures PPE, gained 4.8 per cent or 4.5 Singapore cents to 99 cents. 

Glove makers were mixed. UG Healthcare was up 3.7 per cent or 2.5 Singapore cents to 69.5 cents, Riverstone was flat at S$1.41, while Top Glove was down 0.6 per cent or S$0.01 at S$1.69 as at 1.49pm.