THE Straits Times Index (STI) fell 13.59 points or 0.53 per cent to 2,545.51 on Friday as US president Donald Trump's growing attack on the Chinese tech sector sent Asian stock indices lower, while punters continued to hope for a US stimulus package to keep the global economic recovery on track. Read more at The Business Times.
Thai Beverage, the most actively traded index stock, fell two Singapore cents or 3.2 per cent to S$0.605 on Friday.
Earlier in the week, UOB Kay Hian added Thai Beverage to its alpha picks. The spirits maker trades at 16.3 times its expected earnings for FY20, below its five-year mean price-to-earnings ratio of 20 times, the brokerage said, adding:"We see resilient consumption volumes from its off-trade spirits segment, which could shelter the group from the full-blown effects of Covid-19 even if a subsequent round of stay-home measure materialises.
DBS analysts wrote:"Watch out for opportunities in the undervalued cyclical space as several are trading at historic valuation extremes. While there is a lack of strong upside catalyst, we believe the current lull period for these stocks is an opportunity to accumulate. Our picks are CapitaLand, City Developments, ComfortDelgro, ThaiBev and OCBC."
Top gainer Jardine Matheson rose 1.24 per cent to US$40.80. Top loser SGX fell 2.48 per cent to S$8.64. Earnings season continues in full swing next week. Wilmar will report half-year earnings after trading next Tuesday. CityDev and UOL Group will report earnings next Thursday. ST Engineering will report earnings next Friday.For daily updates on weekdays and specially selected content for the weekend. Subscribe to
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