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

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+.