Short-term profit-taking likely on pre-emptive Phase Two measures: analysts

ANALYSTS are foreseeing a trend of profit-taking on the Singapore bourse as the Republic reinstates pre-emptive safety measures from May 8 to 30.

This comes amid a rise in Covid-19 community cases, including a cluster at Tan Tock Seng Hospital detected the past week.

The sell-off has already started, with Singapore shares swimming in a sea of red during the early morning trading session on Wednesday. As at the midday trading break, all index counters except Jardine Matheson Holdings were down.