Hot stocks: Singtel, Sea jump after digital-bank win; iFast, Razer sink

LISTED companies that were selected to set up digital banks in Singapore saw their shares rally to fresh highs, while those with failed bids, including iFast Corp and Razer Inc, tumbled on Monday.

Singapore Telecommunications (Singtel), whose alliance with fintech and ride-hailing giant Grab Holdings bagged a digital full-bank (DFB) licence, jumped as much as 10.5 per cent or S$0.245 to reach S$2.585 within the first few minutes of the opening bell. The last time Singtel's shares closed near this level was in June this year.

Singtel shares eased slightly to trade at S$2.47 as at 11.29am, up 5.6 per cent or S$0.13 on the day. About 65.6 million shares changed hands, making Singtel the top traded by value and third by volume.