Travel & hospitality stocks rise as Singapore eases restrictions

SIA, Genting and ComfortDelGro lead in average daily turnover.

A recently published update by SGX points to a rise in the buying of travel & hospitality stocks as Singapore resumes its easing of travel restrictions.

SIA, SATS and SIA Engineering experienced gains by 7.6%, 3.8% and 3.2%, respectively. These represent international travel-related plays, while ComfortDelGro, a global transport company, jumped by 1.3%.

Genting Singapore led the hospitality industry with a gain of 4.8%, while Ascott Residence Trust, CDL Hospitality Trust and Far East Hospitality Trust, all of which are stapled trusts, grew by 5.9%, 6.3% and 3.2% respectively.

Meanwhile, due to its more defensive state since the end of 2019, Mandarin Oriental had a 0.4% increase.

Previously, the Singaporean government announced the expansion of its Vaccine Travel Lane (VTL) program to include nine new countries. SGX also expects this will also be accompanied  by connections to global supply chains and the preservation of Singapore’s hub status.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

HongKongLand had the most growth for the day.
It surpassed the Bloomberg consensus estimate of 14.5%.
The agreement aims to grow tourism and economic activities as borders reopen. 
It will also enter a loan agreement worth $210.6m.
The acquisition will be fully funded by cash through internal resources.
These countries are Cambodia, the Maldives, Sri Lanka, Thailand, and Turkey.
The decrease was driven by profit declines in their beer and non-alcoholic businesses.
Sources say the state-owned Chinese firm is in talks with advisers about the potential divestment.
The tests start on 29 November.
Exercise CyberMaritime 2021 puts the sector's cybersecurity readiness to the test.
This is equivalent to 236 attackers per company in a year.
Genting Singapore was seen with the most growth.
The partnerships aim to improve care delivery and patient outcomes.