Daily Markets Briefing: STI up 1%

Find out who the biggest gainers were.

According to KGI Fraser, Singapore stocks ended last week on a positive note after markets expected more stimulus measures from central banks around the world.

Commodity companies were the biggest beneficiary of last week's rally, with stocks of Wilmar International ($3.18; +8% WoW) and Noble ($0.54; +7% WoW) being the biggest winners, KGI Fraser said.

Here’s more from KGI Fraser:

Other gainers included Genting Singapore ($0.83; +8%) after its peer, Marina Bay Sands, reported a 10.8% rise in quarterly earnings.

Oil & Gas bellwethers Keppel Corp ($7.25; HOLD TP $7.16) and Sembcorp Marine ($2.46; SELL TP $2.07) were down for the weak after a weak set of third quarter results, indicating the weak fundamentals still prevailing in the sector.

Given that O&G stock stocks are now trading at trough valuation levels, we see limited downside from here.

We prefer companies with good revenue visibility, such as Triyards ($0.45; BUY TP $0.55) or diversified players with upside potential from their other business segments, such as Keppel Corp ($0.7.25; HOLD TP $7.16).