Singapore Stock Market News
UOB Kay Hian - Market Outlook & Strategy
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Publish date: Fri, 05 Dec 2014, 11:07 AM
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REVIEW:
The FSSTI enjoyed a 2.3% mom rise in November to 3,350.5. The strong performance was underpinned by banks, which rose 4-7% mom after registering solid 3Q14 results. The most notable development in November was OPEC's decision to not cut supply despite the 39% fall in Brent crude oil price from its ytd high. Unsurprisingly, this led to a sharp sell-off in oil-related sectors, such as shipyards (-5% mom) and oil services (-13% mom).
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