The advance GDP estimate for 2Q20 is due to be revealed this week, with headline GDP growth expected to contract 8% y-o-y due to the recent circuit breaker measures from April to June, global recession, and closure of international borders.
Of the 30 constituents, only consumer staples such as Dairy Farm International and Wilmar International as well as, Mapletree Industrial Trust (MIT) and Singapore Exchange Limited (SGX), were in the green.
MIT’s acquisition of a 60% stake in US data centres has made the stock a positive for analysts. SGX recently announced a 74% y-o-y surge in its securities market turnover for June following the reopening of major economies.
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