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Hot stock: Singtel falls 6.8% amid concerns over Telkomsel’s profitability softening

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Vivienne Tay

Vivienne Tay

Published Wed, Aug 2, 2023 · 02:14 PM
    • Singtel’s shares are trading near a two-month low.
    • Singtel’s shares are trading near a two-month low. PHOTOS: REUTERS

    SHARES of Singtel neared a two-month low on Wednesday (Aug 2) amid heavy trading, as analysts from Citi flagged softness from Telkomsel, its regional associate in Indonesia.

    The Singapore telco’s counter was also trading on an ex-dividend basis in a sea of red among index counters.

    Most Straits Times Index constituents slid over the afternoon trading session, mirroring selling across Asian markets after Fitch downgraded the United States’ credit rating to AA+.

    Hot StockSingtelTelcosTelkom Indonesia

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