REVIEW: The FSSTI continued to perform well, rising 0.34% mom to 3,402.86 in February. Last month was an eventful month in Singapore. Noble came under attack by Iceberg Research, which alleged deficiencies in Noble's accounting principles. After reporting results that were below market expectations, Noble's share price retraced 8.5% mom. Another development was the announcement that SGX CEO Mr Magnus Bocker would be leaving SGX in end-Jun 15.
The reporting season concluded with 21% of the stocks under our coverage reporting lower-than-expected results.
Sectors which outperformed include telecommunications (+3.5% mom) and property (+1.6% mom). Underperforming sectors include oil services (-7.8% mom) and supply chain services (- 4.5% mom) as investors remained relatively risk adverse.
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