• Last week, LCU (+0.35% in USD), SQU (+1.89% in USD), SRT (+0.75% in SGD), SHD (+1.30% in SGD) and SCY (+5.62% in SGD) gained.
• LCU’s rise was due to financials, real estate and utilities by sector, and Australia, Taiwan and Indonesia by country. By individual firms, gains were predominantly led by Commonwealth Bank of Australia, MUFG, and Hon Hai Precision Industry. Commonwealth Bank of Australia and MUFG gained after US financials profited.
• SQU’s rise was attributable to Delta Electronics, Cal Comp Electronics and Com7 PCL. Delta Electronics was raised from fully valued to hold by DBS Bank.
• SRT’s rise was due to industrial, retail and multi asset by subsector and MINT, FCT and CLAR by individual REITs. FCT rose as it could post mild sequential rise in NPI for 2H24 ended September due to progressive opening of renovated shops at Tampines 1 and elevated rents.
Source: Bloomberg, as of 20241018.
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