Pedestrians ride an escalator past an electronic screen and ticker board that indicates stock figures at the Singapore Exchange headquarters. -- Singapore stocks took a beating this week amid the twin uncertainties of the U.S. election and the worsening pandemic in the West, overtaking Thailand to become Asia’s worst equity market this year.
A recovery in the Southeast Asian nation’s stocks from the market plunge triggered by the pandemic has been hampered by the economy’s integration with global trade and supply chains, and a lack of technology shares in the index. More than 80% of Singapore’s benchmark is made up of cyclical equities -- the most among regional peers. A resurgence in coronavirus cases in America and Europe and uncertainty surrounding stimulus in the U.S. are expected to limit gains in the near term.
Singapore Airlines Ltd. and ComfortDelGro Corp. are the worst performers on the index this year so far -- down 46% and 42%, respectively -- after the pandemic battered travel and forced people to stay home. A gloomy outlook for tourism could limit the stock market’s re-rating potential, according to Suresh Tantia, an investment strategist at Credit Suisse Group AG.
Being cancer-stricken and begging CPF Board to repay overdue debt; that which in any case cannot be done as the money had been commingled and funneled to private entity Temasek Holdings for Ho Ching to wager on unviable, untenable and ultimately, invariably doomed gambles
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