Daily Markets Briefing: STI down 0.44%

Find out which firms underperformed.

According to KGI Fraser, the Singapore traded weaker (STI: 3010.47; -13.2 pts) last Friday, ahead of the US data.

Golden Agri (S$0.375; -2.6%) and Singapore Technologies Engineering (S$3.22; -2.4%) were the largest index losers, perhaps due to profit taking after a healthy climb in price, KGI Fraser said.

Here’s more from KGI Fraser:

SATS (S$3.98; +2.3%) was the outperformer in the STI, posting 2 days of strong gains after its results last Wednesday.

In the mid-cap space, Tiger Airways surged 10c to close at 41c, after SIA’s takeover bid.

Our call to switch from Rickmers Maritime (S$S$0.150; -9.6%) in our August note ‘Is the current high-yield sustainable?’ to First Ship Lease Trust (S$0.175; unch; BUY TP: S$0.260) proved to be timely, as RMT plunged after slashing its dividends.

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