STI stocks hurtling towards year's lows with August mauling

AUGUST, traditionally a weak month for Singapore equities, is panning out worse than expected, with the index down 5.3 per cent this month.

KGI Securities' head of research Joel Ng said:"SPH's media business is still under pressure, and its heavy investments into the UK are taking a hit from Brexit fears and the country's weakening currency." The recent stock performances of these nine STI counters have also run into global economic headwinds and growing fears of a recession.

"This may have exacerbated the share price fall in this earnings season and more recently," he added. Such conditions may cast a pall over markets, but analysts believe that this year's market performance is unlikely to compare with that of last year, when the STI lost 9.8 per cent.

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