Keppel at risk of another sell-off as oil crashes to 14-year low

It’s also struggling with Tianjin woes.

Keppel’s share price has declined steeply since the end of July. But the worst may be yet to come for the struggling conglomerate.

According to Nicholas Teo of CMC Markets, the stock is at risk of falling further as oil prices crash to a 14-year low. Reports of Keppel’s exposure to devastatedTianjin are also unlikely to lift its fortunes.

“Keppel closed at SGD7.27 yesterday, below the key SGD7.30. With a rebound expected in Asian markets this morning following the strength gathered from US markets overnight, if Keppel fails to gather any enthusiasm on the upside, we may see yesterday’s break of SGD7.30 as an indication that prices will fall further,” Teo said.

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