Daily Markets Briefing: STI up 0.78%

Find out who the biggest losers were.

According to KGI Fraser, the sell down in markets was broad based, with US markets declining 6%, oil futures lower by 10% and the STI down by 5%.

In local markets, among the biggest losers declining 5 to 15% for the week were Offshore & Marine stocks (Keppel, Sembcorp Industries, Yangzijiang) and banks (UOB, DBS, OCBC), KGI Fraser said.

Here’s more from KGI Fraser:

We would accumulate high yielding dividend stocks (>7%), notably Croesus Retail Trust ($0.805; BUY TP $0.91), Soilbuild Business Space REIT ($0.755; BUY TP $0.87) and Valuetronics ($0.40; BUY TP $0.67).

Among the banks, OCBC's ($8.4; BUY TP $10.0) 4% dividend yield and trough valuations (i.e. P/B) may offer some support as it trades at its 3 years lows.

In the O&M sector, Triyards' ($0.49; BUY TP $0.55) record order book and revenue visibility for the next two years places it in an excellent positioned to weather the oil market downturn unscathed.

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