SINGAPORE (June 16): The Singapore market jumped this morning on news that the so-called Phase 2 reopening of the economy will take place with effect from June 19, instead of June 22, as earlier circulated.
The Straits Times Index reached as high as 2,688.99 points from the previous day’s close of 2,613.88 points.
The government announced on June 15 that retail shops can reopen and food and beverage outlets can now allow dining in, subject to certain conditions, such as a cap of five persons per table.
From the perspective of CGS-CIMB analyst Lim Siew Khee, “Phase 2” beneficiaries include retail REITS such as Capitaland Mall Trust, Frasers Centrepoint Trust, SPH Reit, StarHill Global Reit, Mapletree Commercial Trust, and Suntec Reit.
Favoured F&B counters include food court operator Koufu and seafood chain Jumbo.
Among the most actively top gainers are ComfortDelGro Corporation, which runs taxis, trains and buses. As at 9.30am, it was up 6.33% to $1.68.
